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North American Hedge Funds Hold Up Best Amid Equity Sell-Off: MS

Morgan Stanley (NYSE:MS) published its summary of August hedge fund data this week.

The figures show that on average, despite the global equity sell-off that occurred in late August, Hedge Funds around the world held up ok relative to equity markets. Indeed, based on Morgan's initial figures, the median return across all strategies was -1.8%. Long/short equity strategies show a loss of around 2.1%.

On a regional basis, European and North American focused hedge funds held up the best during August with median returns of -0.5% and -0.6% respectively. Based on Morgan's preliminary figures, Asia ex. Japan- and EM-focused funds had the worst returns in August, down 5.4% and 6.1% respectively.

These relatively average returns seem to have continued into September. According to Morgan's Americas-based prop estimate, long/short equity funds and the wider hedge fund universe are sitting on median returns of -0.8% and -0.6% respectively.

Hedge funds: steady performance

Hedge funds: Reducing leverage