The healthcare sector went on a tear beginning in 2011, thanks in large part to the passage of the Affordable Care Act and its impending implementat
Thursday, 19 January 2017
Last updated 13 hours ago
Sep 17 2007 | 1:53pm ET
Hedge fund losses in August weren’t only substantial; they were remarkably broad-based, according to the latest Credit Suisse/Tremont Hedge Fund Index report.
“In August, the subprime mortgage contagion led to a widespread sell-off that swept equities, commodities and low-grade credit markets,” Oliver Schupp, president of the Credit Suisse Index Co., said. “The sell-off was exacerbated by the highest jump in the overnight loan rate in over six years and banks and brokerages reported declining values in credit investments.”
The overall Credit Suisse/Tremont Hedge Fund Index fell 1.53% in August, following a flat July, but remains up 7.03% year-to-date. By contrast, the Standard & Poor’s 500 rose 1.5% on the month, but is up only 5.2% in 2007. The CS/Tremont Investable Hedge Fund Index declined 1.89% last month (up 3.51% YTD).
Every single one of CS/Tremont’s subindices and sector invest indices were in the red last month. The biggest loser by far was managed futures funds, which suffered through its second consecutive terrible month falling 4.61% in August, and are now down 2.48% year-to-date. The strategy also suffered a hard month on the investable side, down 4.18% (down 2.26% YTD). Other big losers include emerging markets (down 2.37% in August, up 9.42% YTD) and event-driven multi-strategy (down 2.03% in August, up 12.12% YTD).