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Hedge funds continued to struggle in August

Hedge funds continue to struggle as asset weighted returns for the year turn negative, new data from Eurekahedge has revealed

The Eurekahedge Hedge Fund Index, tracking 2638 constituent funds globally, was flat-to-marginally positive at 0.05% during the month of August. What’s more, emerging markets focused mandates as a whole were under pressure during the month as the Turkish lira went into free fall, Eurekahedge said. 

Rising tensions between the US and China over trade, too, continued to weigh on market sentiment, with Asian hedge fund managers posting their third consecutive month of losses down 0.24%, Eurekahedge said. 

The next few slides sets out some of the key highlights in the hedge funds space for the month of August.

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The Eurekahedge Hedge Fund Index, tracking 2638 constituent funds globally, was flat-to-marginally positive at 0.05% during the month of August. What’s more, emerging markets focused mandates as a whole were under pressure during the month as the Turkish lira went into free fall, Eurekahedge said. 

Rising tensions between the US and China over trade, too, continued to weigh on market sentiment, with Asian hedge fund managers posting their third consecutive month of losses down 0.24%, Eurekahedge said. 

The next few slides sets out some of the key highlights in the hedge funds space for the month of August.

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Greater China

Greater China focused hedge fund managers posted their third consecutive month of losses, down 3.73% in August, 6.03% as of August 2018 year-to-date, Eurekahedge said. 

Increasing trade tensions have seen the Eurekahedge Greater China Hedge Fund Index post losses of 9.88% in the three months through to August.

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Japan

Japan focused managers were flat to marginally positive at 0.08%, unable to rescue the Eurekahedge Japan Hedge Fund Index which is firmly in the red for the year down 2.39% as of August year-to-date.

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Emerging markets

Meanwhile, a rising US dollar, continuing trade tensions and the Turkish Lira took their toll on emerging market sentiment with the Eurekahedge Emerging Markets Hedge Fund Index down 2.27% in August, and 3.13% 2018 year-to-date, the firm added.

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Commodity trading advisors

Commodity trading advisors rebounded with 1.00% gain in August, with underlying trend following strategies up 2.70% during the month, offsetting losses for commodity focused managers who declined 0.34% and 1.49% respectively.

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Artificial intelligence

Artificial intelligence (AI) hedge fund managers posted their fifth monthly loss for the year in August and were down 0.43%. The Eurekahedge AI Hedge Fund Index has declined 2.64% for the year following gains of 8.40% in 2017.

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