NEW YORK (HedgeWorld.com)–Hedge funds tracked by Morgan Stanley Capital International returned 1% in August, bringing returns for 2003 through August to 9.3%, based on preliminary results for the month.
In the same respective periods, the MSCI World Equity Index returned 2% and 14.3%, the MSCI World Sovereign Debt Index returned negative 0.6% and 3.4% and the Standard & Poor’s 500 Index returned 1.8% and 14.6%.
The MSCI Hedge Fund Index was boosted by good performance from three MSCI hedge fund groupings: MSCI Security Selection Index; MSCI Multi-Process Group Index; and MSCI Specialist Credit Index.
The MSCI Security Selection Index returned 1.8% in August and was up 11.8% in the first eight months of the year. The Security Selection Index is MSCI’s category for long/short equity funds, equity market neutral funds and short-biased funds. Returns for July were 1.4%, up from preliminary returns of 1.2%
The MSCI Multi-Process Group Index , made up of event-driven and multi-strategy funds, also returned 1.8% in August and was up 12.5% in the year-to-date period through August.