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Komfie Manalo, Opalesque Asia: Hedge funds gained in August, topping the mixed performance of U.S. equities as financial market volatility and trading volume declined. Data provider Hedge Fund Research showed that the resurgence in energy/basic materials and activist strategies saw the HFRI Fund Weighted Composite Index gaining +0.4% for the month, increasing the Index Value to 12,709 and bringing YTD performance to +3.5%.
"Specialized strategies across event driven and equity hedge, including energy-focused, distressed and shareholder activist posted strong gains to lead hedge fund performance in August as oil surged while global equities, interest rates and high yield credit were essentially unchanged for the month," stated Kenneth J. Heinz, President of HFR.
After posting losses in the first two months of the year, the HFRI FWC has now produced gains in six consecutive months. The HFRI Asset Weighted Composite Index advanced +0.4% for the month, bringing YTD performance to +0.5%. Event-driven strategies led industry performance in August, driven by strong contributions from activist and distressed strategies. The HFRI Event-Driven Index advanced +1.8% for the month, bringing YTD performance to +6.0%, the leading area of strategy performance.
Shareholder activist strategies surged for the second consecutive month, as the HFRI ED: Activist Index added +3.7% in August, fo...................... To view our full article Click here
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