Hedge funds were flat to marginally negative at 0.06% during the month of August1 with much of this weakness led by underlying CTA/managed futures and macro mandated hedge funds. On the other hand, underlying markets as represented by the MSCI World Index (Local) were up 0.48%. Close to 60% of the underlying constituent hedge funds for the Eurekahedge Hedge Fund Index were in positive territory this month, with majority of them being long/short equity mandated. Asia ex-Japan hedge funds led performance among regional mandates this month, up 1.24% while distressed debt managers topped the table across strategies, gaining 1.77% over...