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In August, global financial markets fell, reversing early month gains on continued concerns regarding generational inflation, increasing interest rates, and weakening economic growth. Global equity markets posted broad-based declines led by Technology. European declines were led by Germany & France while Asian equities were mixed. Interest rates increased as the Federal Reserve outlined that additional aggressive interest rate increases would likely be required to slow generational inflation; the US dollar gained against most currencies. Commodity declines were led by Oil, Metals, and Hogs, though Natural Gas and Cotton gained.
The HFRU Hedge Fund Composite Index posted a decline of -0.26% in August.

HFRU Equity Hedge Index declined -0.73%
HFRU Event Driven Index posted a gain of +0.58%
HFRU Macro Index gained +1.00%
HFRU Relative Value Arbitrage Index declined -0.98%

Comments reference performance as reported on August 31, 2022.