Australian Fund Monitors' hedge fund indices rose by 3.15 per cent in August, bringing year-to-date performance to 13.28 per cent.

Australian Fund Monitors' hedge fund indices rose by 3.15 per cent in August, bringing year-to-date performance to 13.28 per cent.

AFM's equity-based absolute return index looks set to better its previous high water mark, with the index now positive over a 12 month basis, against the ASX200 which is still down over 12 per cent since 1 September 2008.

Equity-based funds rose 4.22 per cent in August and 17.79 per cent YTD. Non equity-based funds fell by 0.55 per cent in August and are up 4.76 per cent YTD.                 

The best performing strategy in August was equity 130/30, which was up by 6.4 per cent.