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Komfie Manalo, Opalesque Asia: Emerging markets and activist hedge funds lead the hedge funds decline in August 2015 as global equity markets experienced sharp losses led by uncertainty over Chinese growth, falling oil prices and the timing of U.S. Federal Reserve interest rate increases, according to data released today by Hedge Fund Research (HFR).
In its monthly performance report, HFR said that the HFRI Fund Weighted Composite Index (FWC) fell -1.87% for the month to an NAV of 12443.31, paring the YTD performance for the FWC to a gain of +0.2%. The August decline for the FWC was the worst monthly performance since May 2012. Following several years in which the HFRI trailed strong equity market gains, the FWC outperformed the S&P 500 by over 400 basis points in August and 300 basis points year-to-date.
"August hedge fund performance displayed a wide range of performance dispersion, including differentiation between strategies, sub-strategies, regions, high and low beta exposures, as well as between individual funds, maintaining a small YTD gain for the HFRI," stated Kenneth J. Heinz, President of HFR.
The HFRI Emerging Markets Index posted a decline of -4.5% in August (-3.17% YTD), the worst decline since May 2012, driven by losses across Emerging Asia.
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