HFRX INDICES MID-AUGUST 2026 PERFORMANCE NOTES

Global financial markets posted mixed performance through mid-August as Technology and AI-related equities recovered from steep July declines, while the outlook for a resolution of the Iran military conflict remained uncertain. Interest rates were little changed amid cooling inflation data and a mixed outlook for potential rate increases in the second half of 2026. The U.S. dollar declined as the U.S. and Bank of Japan intervened in support of the Japanese yen. Commodities were mixed, with Gold posting a strong gain while Oil declined.

Hedge funds posted gains through mid-August, recovering from prior month declines, with the HFRX Global Hedge Fund Index gaining +1.21%.

• HFRX Equity Hedge Index gained +2.29%
• HFRX Macro Index gained +1.48%
• HFRX Event Driven Index gained +0.60%
• HFRX Relative Value Index gained +0.49%

Comments reference performance figures as of August 17th, 2026