Hedge Funds Down In August

Sep 12 2007 | 7:54am ET

August wasn’t such a hot month for hedge funds, according to a pair of indices. Hedge Fund Research’s HFRX Global Hedge Fund Index showed the average hedge fund down 2.55% on the month, while HedgeFund.net’s HFN Hedge Fund Aggregate Average fell 1.26%.

Year-to-date, however, the numbers are somewhat different, with the HFRX index showing the average hedge fund up 2.71% in 2007 and the HFN index showing a more optimistic 6.28% return this year. Still, HFN said the decline was the largest monthly drop in over a year.

All of HFN’s subindices, with the exceptions of its equity market neutral (up 1.32% in August, 6.07% YTD), macro (0.92%, 7.5% YTD) and U.S. (0.04%, 6.21% YTD) averages, were in the red, while the only HFRX index in the black was merger arbitrage (0.94%, 4.61% YTD).

“Leading” the losers in the HFN index were energy sector hedge funds (down 4.66% in August, up 7.63% YTD), emerging markets (down 3.57%, up 10.81% YTD) and convertible arbitrage (down 2.36%, up 1.83% YTD). Latin America funds remained the best performing funds on the year at 17%, in spite of a 2.06% decline last month.

Meanwhile, HFRX’s macro index was the worst performer in August, dropping 7.38%. It is also the only HFRX index in the red year-to-date, down 6.98%.


In Depth

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Trump Administration: What It Could Mean for Carried Interest

Jan 19 2017 | 5:25pm ET

The arrival of the Trump administration brings the potential for a repeal of the...

 

From the current issue of

Versum Materials (VSM), with a market capitalization of $2.7 billion, enables chipmakers to achieve higher performance at lower cost with enhanced reliability. Versum is a leading global provider of electronic materials for the integrated circuit and flat-panel display markets.