Hedge funds gained 0.65 per cent in August according to the Barclay Hedge Fund Index compiled by BarclayHedge. Year to date, the Index is up 3.37 per cent.
“An August calm set the stage for a profitable month with 70 percent of hedge funds reporting gains on the month,” says Sol Waksman (pictured), founder and president of BarclayHedge.
Fifteen of Barclay’s 17 hedge fund indices gained ground in August. Distressed Securities were up 2.31 per cent, Emerging Markets gained 1.40 per cent, the Event Driven Index was up 1.33 per cent, the Technology Index added 1.18 per cent, and Convertible Arbitrage gained 1.13 per cent.
In the loss column, Global Macro gave up 0.84 per cent, and the Equity Market Neutral Index was down 0.61 per cent for the month.
At the end of August, eleven of Barclay’s hedge fund indices have positive returns in 2016, while six have losses. Emerging Markets are up 8.66 per cent year to date, Distressed Securities have gained 7.62 per cent, the Event Driven Index is up 7.57 per cent, Convertible Arbitrage has gained 3.82 per cent, and Merger Arbitrage is up 3.39 per cent.
European Equities are down 5.98 per cent for the year, Healthcare and Biotechnology has lost 4.29 per cent, Pacific Rim Equities have given up 1.82 per cent, and the Equity Market Neutral Index is down 1.42 per cent.
The Barclay Fund of Funds Index gained 0.36 per cent in August, but remains down 1.70 per cent year to date.