Industry Updates

Eurekahedge: Hedge fund managers up 0.76% in August

Thursday, September 23, 2021

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Opalesque Industry Update - Hedge fund managers were up 0.76% in August, trailing behind the global equity market as represented by the MSCI ACWI (Local) which gained 2.45% during the month. In terms of 2021 performance, global hedge funds were up 8.54%, recording the strongest August year-to-date return since 2009 despite the ongoing pandemic. Around 79.8% of the constituents of the Eurekahedge Hedge Fund Index generated positive returns in 2021.

On an asset-weighted basis, hedge funds were up 0.19% in August, as captured by the Eurekahedge Asset Weighted Index - USD. In terms of 2021 performance, the index is only up 3.92%, highlighting the struggles for some of the larger asset managers over the year.

The Eurekahedge North American Hedge Fund Index returned 0.84% in August, trailing behind the S&P 500 and DJIA which returned 2.90% and 1.22% respectively. In terms of 2021 performance, North American hedge funds have returned 11.94% - posting the highest 2021 YTD return among the regional indices.

The Eurekahedge European Hedge Fund Index returned 1.02% in August supported by the robust performance of the pan-European Euro Stoxx 50 which returned 2.62%. In terms of 2021 performance, European hedge funds have returned 7.77% - posting the second highest 2021 YTD return among the regional indices.

The Eurekahedge Distressed Debt Hedge Fund Index gained 0.98% in August, extending their streak of consecutive positive monthly returns to 11 months. In terms of 2021 performance, distressed debt hedge funds outperformed all of their main strategic peers and were up 12.33%, recording their strongest August year-to-date return since 2009.

The Eurekahedge Event Driven Hedge Fund Index returned 0.72% in August, paring some of the losses incurred in July. In terms of 2021 performance, event driven hedge funds have returned 10.82% - posting the second highest 2021 YTD return among the main strategy indices.

The Eurekahedge Long Short Equities Hedge Fund Index returned 0.97% in August, fully recovering the losses incurred in the previous month. In terms of 2021 performance, long/short equities hedge funds have returned 10.54% - posting the third highest 2021 YTD return among the main strategy indices.

Fund managers focusing on cryptocurrencies were up 19.29% in August as tracked by the Eurekahedge Crypto-Currency Hedge Fund Index, trailing behind Bitcoin which gained 11.33% over the same period. In terms of 2021 return, cryptocurrency hedge funds have gained 137.20%, outperforming Bitcoin which returned 63.35% over the first eight months of the year.

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