July was mostly a losing month for commodity trading advisors and trend-following funds.The IASG CTA Index declined by 0.7 percent for the month, trimming its gain for the year to 3.44 percent. The IASG Trend Following Strategy Index fell by 2.7 percent, nearly halving its gain for the year, to 2.82 percent.Just over 42 percent of managers that reported to the database posted gains for July. The average manager was down 0.77 percent.
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