AI and crypto hedge funds down in August

AI hedge fund managers posted their fifth monthly loss for the year in August and were down 0.43%. The Eurekahedge AI Hedge Fund Index, which tracks funds using AI and machine learning theory in their trading process, has declined 2.64% for the year following gains of 8.40% in 2017.

The Eurekahedge Crypto-Currency Hedge Fund Index, which tracks hedge funds investing in crypto assets, was down 13.05% as bitcoin, ether and ripple declined 9.23%, 37.53% and 23.26% respectively in August. On a year-to-date basis, crypto-currency hedge fund managers are down 52.80%, underperforming the bitcoin price index which declined 49.39% over the same period.

Source: Eurekahedge

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