The funds of hedge funds industry has racked up a median gain of 6.2% for the year to the end of August, with the monthly median for the industry up 1.02%.
Global multi-strategy, which usually mirrors the median, did even better for the month, up 1.3%, taking the year-to-date returns to 7.83%.
For August, European equity funds of funds stormed ahead, up 2.24%, taking the year-to-date returns to 6.74%. US equities also rallied, up 1.42% for August, taking the year-to-date returns to 8.17%. Global equity followed in the US equity market footsteps, up 1.31% for August and 7.24%