Hedge Funds Inch Up In August, Lyxor Says

Sep 9 2010 | 1:51am ET

Hedge funds were essentially flat in August, continuing a seriously uninspiring year of the asset class.

The Lyxor Hedge Fund Index added just 0.05% last month. It is up 0.84% on the year. By contrast, the Standard & Poor’s 500 Index fell 4.5% in August and is down 4.6% on the year.

Commodity-trading advisers enjoyed the strongest August, rising 3.86%. Convertible and volatility arbitrage funds returned an average of 1.95% and short-bias funds 1.25%.

Faced with falling stock markets, long-bias funds posted the worst performance in August, dropping 1.48%. Statistical arbitrage equity funds did only slightly less bad, losing 1.4% on the month.

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