Thursday, 21 August 2014
Last updated 1 hour ago
Sep 12 2013 | 12:58pm ET
As usual, August proved a tough month for hedge funds.
"Since 2000, if I had taken £100 each time a fund manager moaned about August and exclaimed, 'I should have just stayed on the beach,' I could almost have afforded to stay on the beach, too," Clareville Capital's David Yarrow said.
Yarrow can joke: While his Pegasus Fund lost 4.9% last month, it is still up 4.1% on the year. Others are not so lucky.
Take Tudor Investment Corp.'s Tensor Fund: It lost 2.2% in August to extend its year-to-date decline to 6.2%, DealBreaker reports. And that loss is positively modest compared to some others.
Man Group's AHL Diversified strategy is off 7% on the year, Financial News reports. BlueCrest Capital Management's BlueTrend fund is down 11.6%, and International Standard Asset Management is down 12.9%.
Some funds managed to pick up ground in August, however. Elliott Management's International and Associates funds rose 0.9% on the month and are up 7.1% and 7.3% on the year, respectively, the New York Post reports. Varus Capital Management's eponymous fund is also up 7.3% in 2013 after a 2.11% jump in August.
Aug 4 2014 | 7:42am ET
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The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note