7/27/2019 Eurekahedge September 2013 - Hedge Fund Performance Commentary for the Month of August 2013

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1 THE EUREK A HEDG E REPO RT SEP TEM BER 2013

Hedge Fund Performance Commentary for the Month of August 2013September 2013

Introduction

Hedge funds witnessed slightly negative returns in August amid increased risk aversion in global markets during themonth. The Eurekahedge Hedge Fund Index was down 0.32%1outperforming global stock indices as the MSCI World

Index2declined by 2.26% in August.

Risk aversion returned to global markets in August driven by a host of factors. The increased likelihood of the UnitedStates waging another war in the Middle East, weakening economic situation in emerging markets and continuedconcerns of QE tapering by the US Federal Reserve (Fed) were the main drivers of the negative market sentiment duringthe month. Some of the negativity was offset by improving global economic data as the Eurozone emerged fromrecession and Chinas PMI numbers posted positive trends.

August 2013 and July 2013 returns across regions

Returns were mixed among the various regional mandates with Latin American and North America hedge fundsdelivering the strongest returns. The Eurekahedge Latin American Hedge Fund Index gained 0.36% in August mostly dueto the strong returns posted by Brazil focused funds, which were up on the back of a strong rebound in the Bovespa (up3.68%).

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1 Based on 29.32% of funds which have reported August 2013 returns as at 10 September 20132 MSCI AC World Index All Core (USD)

(0.4%)

(0.2%)

0.0%

0.2%

0.4%

0.6%

0.8%

1.0%

1.2%

1.4%

1.6%

North

America

Europe Japan Asia ex-Japan Latin America EH Hedge

Fund IndexJul-13 Aug-13

Source: Eurekahedge

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