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August was a difficult month for hedge funds, although they still significantly outperformed the major market indices. The HedgeFund Intelligence Global Composite Index dropped 1.76% against a 7.05% loss in the MSCI World Index (net).
Emerging Market Equity funds fell 7.24%, making them the worst global performers of the month. Through August, the Index is down 8.40% which is its worst performance since 2008, when it was down 15.25% during the same period.
Event Driven funds fell 4.65% in August, and are down 3.87% for the year so far. This is the worst monthly performance for