Ucits HFS Index up 0.43 per cent in August
After a strong finish at the end of July, the momentum in the Ucits hedge fund universe kept going for the first three weeks in August 2010.
Despite a drop in the last week of the month the Ucits HFS Index was able to return 0.43 per cent in August 2010.
The broad index returned 0.22 per cent, 0.24 per cent and 0.29 per cent in the first three trading weeks of August, respectively, before the last days of the month saw it lose 0.33 per cent.
This loss in week four of August was mainly due to a negative performance of L/S equity, which lost 0.80 per cent, and arbitrage, which lost 0.51 per cent.
From a sub-strategy perspective eight out of the 11 strategies returned positive results.
Fixed income (+2.24 per cent), credit and multi strategy (both +1.83 per cent) enjoyed the best run this month in particular, although multi strategy was the only strategy in the index returning positive results week after week.
The three negative strategies, L/S equity (-0.49 per cent), arbitrage (-0.27 per cent) and convertible (-0.20 per cent), all were positive after the first three weeks of trading. It was the last days of August in which they all took a big hit and therefore turned negative from a monthly perspective.
From a year to date perspective the only negative sub-strategy in the index remains CTA (-2.35 per cent) whose returns of +0.17 per cent in August were not enough to turn things around significantly.
The broad Ucits HFS Index now stands at 2.69 per cent year to date.
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