Performance of hedge funds administered by the Citco group of companies (Citco) dipped marginally in August, with an average weighted return of -0.6%, down from 3% in July.

All strategies – bar Equities and Multi-Strategy – saw positive returns, with Event Driven taking pole position at 3.5%, followed by Commodities at 1.8%, Global Macro at 1.6% and Fixed Income Arbitrage at 0.1%.

A decline in performance was also seen in AUA categories, with large funds at $3bn+ posting an average return of -1.9%, and funds with less than $200-500M recording performance of -0.2%.

With performance more mixed overall compared to the previous month, 56.5% of funds had positive returns in August, down from 69.9% in July.