Long/short equity hedge funds returned a positive performance in August mainly as a result of the continued uptrend in equity markets, according to Jordan Drachman, head of research for
Long/short equity hedge funds returned a positive performance in August mainly as a result of the continued uptrend in equity markets, according to Jordan Drachman, head of research for alternative beta strategies at Credit Suisse.
Drachman says: ‘Following a strong rally in July, equity markets continued their upward trend in August, reaching highs not achieved since October 2008. Long/short equity hedge fund managers continued to increase their overall net exposures in order to benefit from market gains. Despite brief corrections due to a mid-month weak consumer sentiment report, managers were able to finish up for the month.’
The Credit Suisse Long/Short Equity Replication Index was up 1.55 per cent (net) for the month, while the Credit Suisse Global Macro Replication Index finished up 0.08 per cent (net) over the same period.
AIR Indices seek to replicate the performance of major hedge fund strategies and enable investors to gain insight into the global macro and long/short equity sectors of the Credit Suisse/Tremont Hedge Fund Index.
