Hedge Funds Rise In August

Sep 4 2014 | 1:26pm ET

Hedge funds rebounded in August as the stock market hit new highs.

The HFRX Global Hedge Fund Index surged 1.09%, more than doubling its year-to-date gain to 1.97%. Strategies posted gains across the board as the Standard & Poor’s 500 Index reached a record high at the end of the month.

Master-limited partnerships solidified their status as the year’s best-performing strategy, adding 5.22% (19.17% year-to-date). Fundamental growth funds added 2.42% in August (5.79% YTD), special-situations funds 1.99% (4.58% YTD), equity hedge funds 1.65% (1.34% YTD) and systematic diversified commodity trading advisers 1.55% (down 1.56% YTD).

Fundamental value funds rose 1.4% (down 0.52% YTD), event-driven funds 1.31% (4.77% YTD), macro funds and CTAs 1.21% (0.99% YTD), emerging markets 0.93% (0.58% YTD), equity market neutral 0.86% (2.28% YTD), merger arbitrage funds 0.29% (0.6% YTD) and multi-strategy funds 0.21% (0.79% YTD). Credit funds were essentially flat (up 2.86% YTD).

Only two strategies lost ground in August. Convertible arbitrage funds dropped 0.75% (down 0.45% YTD) and distressed restructuring funds 0.55% (up 5.88% YTD).

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