The IQ Hedge Global Macro Beta Index rose by 1.42 per cent in August, according to data from IndexIQ, a developer of index-based alternative investment solutions.

The index is up by 6.01 per cent year-to-date.

Index IQ’s other hedge fund replication indices posted negative performances for the month.

Long/short fell by 1.21 per cent, event-driven by 0.01 per cent, market neutral by 0.07 per cent, emerging markets by 2.91 per cent, fixed income arbitrage by 2.08 per cent and composite by 0.82 per cent.

“The extraordinary volatility of the financial markets over the past few years has provided a terrific stress test for our indexes,” says Adam Patti, chief executive officer at IndexIQ. “Their performance over that period supports our contention that the characteristics of various sophisticated strategies can be mapped and replicated using a passive, index-based approach. This, in turn, has opened the door for the creation of investable index-based products, such as our family of exchange-traded funds and our mutual fund, which allow investors to add these strategies to their portfolios, benefiting from the diversification benefits of hedge funds, without their structural impediments.”