As Wall Street experienced its best August since the 1980s, the hedge fund industry posted its fifth consecutive positive month, returning 2.42 percent in August, according to the Barclay Hedge Fund Index, compiled by BarclayHedge, a division of Backstop Solutions. By comparison, the S&P 500 Total Return Index was up 7.19 percent in August.
Year-to-date, the hedge fund industry added to its gains in August, returning 2.40 percent for 2020. The S&P Total Return Index has returned 9.74 percent over the same period.
All but three hedge fund sectors tracked by the Barclay Hedge Fund Indices were in the black for August.
“The COVID-19 pandemic remained a very real factor for businesses, economies and societies in August, but investors continued to see significant causes for optimism,” said Sol Waksman, president of BarclayHedge. “Stock markets posted record results as U.S. durable goods orders exceeded expectations, home sales surged and consumer spendi