Performance

Absolute Return Indices: Equities continue to fall in August

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August was a flat month for most hedge funds, with the Composite posting -0.02%. Only the commodity and technology indices exceeded a 1% gain, returning 1.05% and 1.33%, respectively. Global equities and emerging market equities turned in the worst results, with global equities down 0.92% and Latin America equities down 1.19%. U.S. equities were roughly flat, posting a -0.20% decline to total -1.94% for the year. JM

ABSOLUTE RETURN STRATEGY INDICES

Strategy

Aug 08

YTD 08

Arbitrage

0.41%

4.54%

Commodities

1.05%

13.34%

Convertible & Equity Arbitrage

0.13%

-2.40%

Credit

0.22%

1.06%

CTAs

0.02%

8.10%

Distressed

-0.40%

-4.19%

Event Driven

-0.27%

-2.07%

Fixed Income

0.30%

5.14%

Global Equity

-0.92%

-4.11%

Latin American Debt

0.06%

3.09%

Latin American Equity

-1.19%

-0.37%

Macro

-0.69%

0.13%

Mortgage Backed

0.39%

3.84%

Multistrategy

-0.12%

0.53%

Technology

1.33%

-1.58%

U.S. Equity

-0.20%

-1.94%

Absolute Return Composite

-0.02%

0.65%




ABSOLUTE RETURN COMPOSITE INDEX

Source: Absolute Return