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Greenwich Global Hedge Fund Index lost -0.55% in August (+3.7%)

Monday, September 16, 2013
Opalesque Industry Update - Hedge funds faired significantly better than equity markets in August 2013 with the Greenwich Global Hedge Fund Index giving up a minimal -0.55% on average compared to the S&P500, down -2.90%, MSCI World, down -2.33% and FTSE 100, down -3.14%. Only 5 of the 33 strategies ended August on a positive note with 58% of all reporting funds posting negative returns.

Global Index Strategy Highlights

• August started on a positive note with a lower unemployment number and positive consumer confidence data from the US as well as the Euro Zone emerging from recession with France, Germany and Portugal all posting better than expected GDPs. Gains were quickly reversed as fears grew over the potential that the US Federal Reserve would begin rolling back its bond purchase program as early as September and uncertainty mounted over whether military action would be taken against Syria by the US and its allies.

• Short-Biased (+2.29%), Fixed Income Arbitrage (+0.22%), Long-Short Credit (+0.19%), Opportunistic (+0.16%) and Special Situation (+0.04%) strategies were the only strategies able to post positive returns for August.

• Distressed Securities strong performance earlier this year allowed the strategy to absorb August loses averaging -0.82% while maintaining its position as the best performing strategy in 2013 (+10.63% year-to-date).

• On a regional basis, the Americas Regional Index was the best Developed Market index with a return of -0.26% while in the Emerging Markets, the Asian Regional Index performed best in August losing -0.47%. YTD, both of the Asia Region’s Indices continue to be the best performing Regional Indices (Developed Markets up +10.77% and Emerging Markets up +0.94%). This could be tested in the final quarter of 2013 if projected growth in Asian markets, particularly India and China, does not accelerate.

Press release


Initial estimated numbers for the month: Source


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