Hedge Funds August Returns
Hedge Funds Add 0.7% in August, Managed Futures, Forex Lag
Hedge funds tacked on less than 1% last month, bringing returns year-to-date to 4.2% according to data on hedge funds collected by HFN Research and eVestment. Managed futures and foreign exchanged strategy hedge funds brought down the group's performance while multi-strategy and emerging markets funds did well.
Hedge funds tracked by eVestment | HFN Research returned an average 0.7% for the month of August, leaving the group ahead by 1.8% for the second half and 4.2% year-to-date. Fair to compare or not, the S&P 500 (SPY) ended the month up 1.98% and 11.85% for the year.
The firm identifies managed futures and foreign exchange-focused funds as the key laggards. Managed futures strategies fell 0.96% for the month, while FX lost 0.59%.
Multi-strategy funds fared especially well, averaging a 1.52% gain, as did emerging-markets funds, up 1.97% for the month. Long/short equity funds rose 1.28% and all equity strategies grabbed 1.25%. Credit strategies kept their category lead for the year as they gained 1.14%, leaving them ahead by 7.41% YTD.
Meanwhile, the latest look at asset flows shows investors are still yanking money from hedge funds. eVestment | HFN says that investors pulled a net $11.8 billion from all hedge funds during July, the fourth loss in five months. Source
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