Short-term and higher-frequency programs generated mixed to positive results as the lightning quick sell-off in equities during the last week caught some strategies off guard
Trend following strategies finally had a correction month, with many (but not all) programs surrendering roughly one-fifth to one-quarter of their YTD returns
Many (but not all) of the equities-based strategies we track – both L/S equities programs and market neutral strategies - seemed to have a challenging month