Preqin’s Hedge Fund Analyst database reveals that event driven was the only hedge fund strategy to produce positive returns in August (+0.49%), with all other single-manager hedge fund strategies falling back into the negative, with a benchmark return for all single-manager hedge funds of -0.08% in August.
Event driven hedge funds also have the highest year-to-date performance for single-manager hedge funds, with net returns of 9.40%, and have outperformed all other single-manager strategies over the last 12 months and on a three- and five-year annualized basis.
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Other Key Facts:
- Long/short hedge funds were the top performing strategy in July, with average net returns of 2.16%, but failed to match this in August, posting average net returns of -0.04%.
- CTAs are now on a 4-month losing streak after posting average net returns of -0.56% in August, with year-to-date performance of -2.54%.
- Macro strategy funds of hedge funds have year-to-date net returns of 3.45%, while macro strategy single-manager hedge funds have only managed net returns of 0.27% so far this year.
- Long/short hedge funds remain the most favoured strategy among investors, with 58% of investors we spoke to in August planning to make new investments in long/short funds over the next 12 months. 16% plan to invest in event driven hedge funds.
- European hedge funds avoided negative returns in August, posting average net returns of 0.19%, while North American hedge funds broke even.
- Asia-Pacific remains the top performing region over the last 12 months, with Asia-Pacific-focused hedge funds producing net returns of 16.64% over the past year, despite August returns of -0.33%.
- JPY-denominated hedge funds have produced impressive year-to-date returns of 17.14% and have an average net return of 24.79% for the past 12 months.
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