According to Bloomberg data, Altimeter Capital Management, the Boston fund founded by American billionaire Brad Gerstner, lost 11pc last month, while Balyasny Asset Management and Verition Fund Management lost 1.5pc and 1.1pc, respectively.
Marshall Wace, the hedge fund controlled by Paul Marshall, the billionaire owner of The Spectator and GB News, was also among last month’s losers. Its Eureka stock-trading fund posted a 6.9pc drop, according to Business Insider.
More broadly, the widespread volatility saw hedge funds as a whole record average losses of 1.1pc last month amid rising oil prices.
However, there was a major split between the best and worst-performing funds, with the top tenth of investors recording average gains of 7.6pc, compared with 12.5pc losses for the bottom tenth.
Kenneth Heinz, the president of HFR, said: “Hedge funds navigated an extremely intense and volatile trading environment in July, with exposure to negative technology momentum contributing to the largest decline for technology hedge funds since 2008.”