Greenwich: Hedge Funds Fall 0.75%, Best S&P500 In August

Sep 9 2013 | 11:25am ET

Whatever strategy they pursue, hedge funds struggled through a difficult August.

All eight strategies tracked by Greenwich Alternative Investments lost ground last month, with the benchmark Greenwich Global Hedge Fund Index shedding 0.75%. The result did, at least, give the index a rare win over the Standard & Poor's 500 Index, which lost 2.9% on the month.

For the year, however, the Greenwich index remains far behind the broader markets, up just 3.49% to the S&P500's 16.16%.

Arbitrage funds were hardest-hit in August, falling an average of 1.17% (up 2.73% year-to-date). Futures funds dropped 0.99% (down 3.46% YTD), macro funds 0.96% (up 1.61% YTD), equity-market neutral funds 0.92% (up 1.12% YTD) and long/short equity funds 0.83% (up 6.43% YTD).

Event-driven funds, the year's best performing strategy with a 7.31% return, managed a more modest decline in August, falling 0.41%. Multi-strategy funds shed 0.22% (up 2.58% YTD) and long/short credit funds inched down 0.01% (up 2.29% YTD).


In Depth

Bob Doll's Ten Market Predictions For 2016

Jan 7 2016 | 9:37pm ET

Well-known market strategist Robert Doll has published his annual list of ten predictions...

Lifestyle

Citadel's Ken Griffin Donates $40M To New York's Museum of Modern Art

Dec 22 2015 | 9:23pm ET

Citadel founder Ken Griffin has donated $40 million to New York’s Museum of Modern...

Guest Contributor

Hedge Fund Marketing - Making the Most of Your Salesperson

Jan 20 2016 | 8:11pm ET

In this contributed article, Bruce Frumerman of Frumerman & Nemeth takes a close...