Hedge Funds August Losses

Hedge Funds Limit Losses to 0.55% in August 2010

Hedge funds have cut losses in August with managers trading more conservatively.  In the month of August hedge funds lost less than 1% while the S&P 500 index by comparison fell 4.74% last month.

The Standard & Poor's 500 Index slumped 4.74% last month, leaving it down 5.9% so far this year. The Barclays Aggregate Bond Index rose 1.29% in August and is up 7.83% year to date, Hennessee noted.

"Hedge funds started the month with reduced net and gross exposure levels, which allowed them to protect capital," Charles Gradante, co-founder of Hennessee Group, said in a statement.

"Managers remain cautious given the global economic uncertainty, though the consensus is that we will likely avoid a 'double-dip' recession," he added.

Gradante also noted that 43% of hedge funds reporting results to Hennessee generated positive performance in August. source

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