Hedge Funds Hit The Skids In August Amid Renewed Uncertainties

First monthly loss for Citco funds, PivotalPath funds nearly flat

Hedge funds administered by Citco generated an overall weighted-average loss of 0.8% for August, which reduced their year-to-date gain to 8.8% from 9.6% at the end of July. Fund returns were widely mixed by strategy, similar to what PivotalPath observed in its overall returns.

The PivotalPath Composite Index gained 0.3% in August amid uncertainties about China’s economy and U.S. inflation, which all weighed on equities. Year to date, the composite index is up 4.6%. For comparison, the S&P 500 and Nasdaq Index reversed their gains in July, falling 1.6% and 2.2%, respectively, in August. Year to date, the indices are up 18.7% and 34.1%, respectively.


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