From the Hedge Fund Team: By index measures released so far hedge fund industry performance in August was down anywhere from -0.92% (Eurekahedge Hedge Fund Index ) -1.2% (Greenwich Global Hedge Fund Index) to -1.37% (HFRI Fund Weighted Composite Index). August may not be remembered fondly by many fund managers, especially Ospraie Management, which announced the shuttering of its flagship fund due to commodities investments.
However, strewn amongst this industry wide performance average are individual funds which have emerged unscathed and at a distinct advantage from the August markets.
August macro indices ranged from -1.06% (The Eurekahedge Macro Hedge Fund Index) to -1.16 (HFRI Macro Index). But the impact of volatile and rising commodity prices which partially shaped the strategy for Melissa Ko’s Emerging Markets Macro Fund catapulted returns to +7.07%. The $1bln fund, launched in Feb 2005 and moved this past March from Bear Stearns to the newly formed CovePoint Capital Advisors stands just shy of +8%YTD.
Additio......................
Source:
http://www.opalesque.com/AMB2008/46952Inside_the_dreary_August_performance.html
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