Hedge funds in August: event-driven up again, macro declines

September 17, 2023

Related: Market slump brings second month of CTA losses
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Event-driven and relative value arb strategies outperformed in August, a mixed month for hedge fund returns as equity markets sold off.

The hedge fund sector was dragged down by losses in long/short equity, macro and managed futures, with the average fund down 0.5% according to HFR, but up 4.7% for the year.

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