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From Christine Gaylican, Opalesque Asia:
Hedge funds have continued recording gains for the sixth straight month beating the performance of the S&P 500 Total Return Index in August, reports indicated.
BarclayHedge’s main index and the Credit Suisse/Tremont Hedge Fund Index, recorded positive returns of 16.48 % and 11.57% YTD, respectively, while the S&P 500 Total Return Index stood at 14.97% YTD.
Credit Suisse/Tremont’s Broad Index confirmed a 1.53% in August, while Barclay Hedge made a 2.06% gain.
Overall, 16 of Barclay’s 18 hedge fund indices were profitable in August: European Equities Index gained 4.50%, Convertible Arbitrage was up 3.73%, Distressed Securities added 3.08%, and Equity Long Bias gained 3.04%. Strong performance in three sectors – European Equities, Emerging Markets and Pacific Rim Equities – indicates the global nature of recent stock market gains.
As for the Credit Suisse/Tremont indices, Convertible Arbitrage strategies led the top performing sectors and extended their run of positive performance to eight consecutive months, returning 3.39% in August and 35.58% YTD.
Oliver Schupp, Credit Suisse Indices’ president, said: “August marks the sixth straight month of positive performance for hedge funds as measured by the Broad Index, bringing the Credit Suisse/Tremont Hedge Fund Index up to 11.57% year-to-date.
Other markets deliver
Both equity (+3.21%) and fixed income (+3.41%) closed-end funds (CEFs) posted plus...................... To view our full article Click here
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