AI hedge funds on track for first year in the red, crypto hedge funds down too

AI hedge fund managers posted their worst monthly performance on record since 2011, as indicated by the 2.06% decline of the Eurekahedge AI Hedge Fund Index in September. This loss brought the index’s year-to-date return down to -4.66%, placing it behind all of the primary strategic mandates by no less than three percentage points. The index has been underwater for eight consecutive months and is on track to record their first annual year in the red.

The Eurekahedge Crypto-Currency Hedge Fund Index is down 54.5% for the year. The index has lost more than half of its value over the first nine months of 2018, as fund managers struggled to mitigate the damage caused by the crypto-currency market crash following gains of 1708.5% in 2017. Despite the abundance of crypto-currencies on the market, the Eurekahedge Crypto-Currency Hedge Fund Index remains highly correlated to the price of bitcoin, indicating that the majority of the crypto hedge funds tracked by the index still possess rather high exposure towards this particular crypto-currency.

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