NAPLES, Fla. - Hedge fund indexes slumped in July as the Dow Jones industrial average rose, according to LJH Global Investments.

The LJH hedge fund index was down 0.52% and the Dow Jones up 0.19%, the firm said Monday.

Hedge funds outperformed the Russell 3000 index, which was down 1.65%; the Standard & Poor's 500 index with dividends reinvested, which was down 0.98%; and the Nasdaq composite index, which was down 6.21%.

For the first seven months of 2001 the LJH hedge fund index was up 3.55%, while the Dow Jones was down 2.46%.

The LJH distressed securities index had another good month, up 0.98%. It has returned 11.98% for the first seven months. The LJH emerging markets index was down 5.42% in July but was up 2.16% for the first seven months.

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