Hedge Funds Stable in August

Data from the EDHEC-Risk Institute on Monday found hedge funds remained stable in August, despite market turmoil. The convertible arbitrage strategy gained 1.25% for the third consecutive month, and the CTA global strategy made its most significant increase since November 2009, increasing 3.04%. Other strategies with strong gains include global macro (1.24%) and short-selling (3.27%).

Unsurprisingly, however, equity-oriented strategies fell with the stock market. Equity market neutral fell 0.57%; event-driven fell 0.29%; and long-short equity fell 0.96%.