New York (HedgeCo.net) – The Credit Suisse Hedge Fund Index, the last of the main hedge fund indices, released August results yesterday and it showed the broad index lost 1.99% during the month. The monthly result erased the gains from July and then some, but the index is still up 0.84% for the year. We reiterate that the S&P 500 lost 6.26% in August and that at the end of August the index was down 4.21% for the year.

Looking at some of the other indices from Credit Suisse, the top performing index was the Dedicated Short Bias index which gained 7.85% which isn’t surprising in the least. For comparison purposes, the HedgeCoVest Short-Only Composite models were up 6.18% on average during the month of August.

The Equity Market Neutral Index gained 0.95% in August and that was the only other index that gained ground during the month.

The worst performing index from the Credit Suisse group of indices was the Event Driven Multi-Strategy Index which lost 3.32%. The Emerging Markets Index was the second worst performing group with a loss of 2.88% for the month.

Rick Pendergraft
Research Analyst
HedgeCoVest