LONDON, Sept 4 - Global hedge funds posted positive results in August even as the unwind in popular yen carry trades whipsawed markets, bank research and sources familiar with the funds' performance showed on Wednesday.
Some strategies performed better than others as, early in the month world stocks sank in response to U.S. recession concerns and as a surprise Japanese rate increase wrong-footed currency speculators. Equity markets later rebounded to near-record highs. The $68.4 billion hedge fund's Market Neutral Tops fund, meanwhile, returned 1.72% in August, contributing to a 18.53% year-to-date gain.
Multi-strategy hedge funds that house many different kinds of trading desks under one roof averaged 0.1% for the same period, the bank added.