Hedge funds held gains in August market rollercoaster

By Nell Mackenzie and Carolina Mandl

LONDON (Reuters) -Global hedge funds posted sure ends up in August even as the unwind in in style yen carry trades whipsawed markets, bank research and sources familiar with the funds’ efficiency confirmed on Wednesday.

Hedge funds posted a mean sure 1.3% return for the month, in accordance to a top brokerage research show from JPMorgan on Tuesday and considered by Reuters on Wednesday.

Some strategies performed larger than others as, early in the month world shares sank essentially based completely on U.S. recession considerations and as a surprise Eastern payment lengthen pass-footed forex speculators. Equity markets later rebounded to shut to-describe highs.

Multi-strategy hedge funds that dwelling many diversified varieties of procuring and selling desks beneath one roof averaged 0.1% for the identical period, the bank added.

Citadel’s flagship multi-strategy fund Wellington used to be up roughly 1% remaining month, as correctly as Schonfeld Strategic Advisors’ flagship fund Strategic Partners.

British hedge fund firm Winton Capital, overseeing $12.3 billion, accomplished August down roughly 0.2% and 1.8% in its multi-strategy Winton Fund and its Varied Macro Fund, respectively.

The multi-strategy Winton Fund, which makes utilize of quantitative procuring and selling, is up 8.1% for the year up to now, whereas the Varied Macro fund is up 4% for the identical timeframe.

Stock procuring and selling hedge funds counting on systematic algorithms to alternate returned roughly 2% for the month to Aug. 30, JPMorgan acknowledged.

The inventory procuring and selling Eureka Fund of British hedge fund Marshall Wace, co-founded by Paul Marshall, accomplished down 0.46% for August nonetheless used to be aloof practically 11% increased for the reason that originate of the year, a source with files of the matter told Reuters, asking now to not be named.

The $68.4 billion hedge fund’s Market Neutral Tops fund, in the intervening time, returned 1.72% in August, contributing to a 18.53% year-to-date construct.

Study the hedge funds’ efficiency here:

Fund August Year-to-date

Citadel 1% 9.9%

Wellington

Citadel 1.5% 14.5%

Tactical

Shopping and selling

Citadel 0.8% 9.3%

Equities

Schonfeld 1% 11.8%

Strategic

Partners

Schonfeld 0.5% 11.7%

Fundamenta

l Equity

Marshall -0.46% 10.97%

Wace

Eureka

Marshall 1.72% 18.53%

Wace

Market

Neutral

Tops

Winton -0.2% 8.1%

Fund

Winton -1.8% 4%

Diversifie

d Macro