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Hedge funds have rough August, Credit Suisse Liquid Alternative Beta (“LAB”) Index -3.36% last month

Friday, September 02, 2011
Opalesque Industry Update - The Credit Suisse LAB Liquid Indices posted negative performance in August according to Dr. Jordan Drachman, Head of Research for Alternative Beta Strategies at Credit Suisse.

Dr. Drachman noted, “The Credit Suisse Liquid Alternative Beta Index (“CSLAB”), which aims to reflect the performance of the overall hedge fund industry, finished down 3.36% in August. The Event Driven sector saw the most significant declines, finishing down 4.62% as the S&P downgrade of the U.S. credit rating caused a broad market sell-off that negatively impacted the distressed equity sector. Meanwhile, the Managed Futures strategy was up 0.35% for the month as long fixed income trades offset losses in currencies and equity futures.”

(press release)

Source

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