Barclays Global Investors told investors in one of its quantitative hedge funds that August has been ugly—unless you look at its peers.

Compared to many of its fellow quant funds, the 32 Capital Fund is only slightly in the red: As of Monday, the fund was down approximately 7%, according to a letter to investors. The fund is now flat year-to-date, which also compares favorably to funds run by AQR Capital Management, Goldman Sachs, Man Group and Tykhe Capital.

Managing director Minder Cheng told clients that the fund’s “returns have turned positive since Friday.” He blamed “non-BGI quantitatively managed hedge funds de-leveing their portfolios” for the market turmoil, but echoed other quant managers burned in recent weeks, calling the volatility “technical rather than fundamental in nature.”

The Wall Street Journal reports that, unlike other hard-hit quant funds, it hasn’t faced an avalanche of redemption requests.