According to data group HFR, hedge funds, on average, were up 2% in the first eight months of the year. On an asset-weighted basis, funds returned -4.1%. Eurekahedge's figures show a -0.7 drop for funds on average on an asset-weighted basis.
Q2 2020 hedge fund letters, conferences and more
Behind these numbers, there's a huge dispersion in returns. Some funds have reported losses of more than 50% this year. Meanwhile, others, such as Saba Capital, managed by Boaz Weinstein, have managed to capitalize on market volatility. Saba's flagship fund has returned more than 80% so far this year.
The world's largest hedge fund, Bridgewater Associates, has not been so lucky.
Bridgewater's losses...
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