(Opalesque) The average Billion Dollar Club (BDC) hedge fund gained 0.1% in July but could not prevent the broader HFM Global Composite Index from slipping 0.1% off the back of underperformance among sub-BDC funds. In what was a turbulent month for markets, few hedge funds added significantly to YTD gains in July, although most protected what had been for the industry a 13-year high half-year advance in H1.