With numbers in from nearly half of the funds reporting to the EuroHedge database, it is clear that August was a grim month for all but a few European hedge funds as rapidly mounting concerns over the Eurozone debt crisis and faltering global economic growth took their toll on world markets.
The EuroHedge Composite Index is showing a median return of -1.95% at this stage – with all strategy areas currently showing negative returns with the exception of managed futures, fixed-income and dollar-based macro funds.
The provisional median return is roughly level with the poor showing in May 2010, when the EuroHedge Composite Index was down by 1.98% in an equally calamitous month in the equity markets.
But the provisional result...