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Funds of hedge funds administered by Citco experienced negative performance in the first half of the year, with an average return of -5% and a median return of -4.37%. This is a departure from the same time last year when returns were positive.

Hedge fund performance dipped marginally in August, with funds in the Equities and Multi-Strategy categories seeing declines in performance which countered gains made by most other types of strategy.

Hedge fund performance swung back into positive territory in July – following negative returns for much of this year – with all AUA categories and all strategies bar Commodities posting positive weighted average returns.