Hedge fund losses surpass $88bn during August

The asset class has reported a $3trn loss year to date, exacerbated by the volatile Summer, which culminated in 'Black Monday' on 24 August. During the month, hedge funds saw an $88bn loss and just $10bn of new inflows bringing the total losses to $78bn, according to The Telegraph. This is the worst month of performance losses since the financial crisis in October 2008, said the paper. Hedge funds affected by the losses include William Ackman's Pershing Square Capital Management and Third Point, run by American Daniel Loeb. Aberdeen snaps up US hedge fund in alternatives push...