The Greenwich-Van Global Hedge Fund Index returned 0.97 per cent in August, putting hedge funds back on track for double-digit returns in 20...

The Greenwich-Van Global Hedge Fund Index returned 0.97 per cent in August, putting hedge funds back on track for double-digit returns in 2006, Greenwich-Van Advisors said in its mid-month report. The index was up 6.65 per cent year-to-date in August, and the company expects that by the end of 2006, the index will have returned more than 10 per cent. All hedge fund strategies followed by the US-based advisor, except for global macro and short sellers, posted positive results in August, according to the company. Equity-based strategies benefited most from the August rally and income managers, who invest primarily in yield-producing securities with a focus on current income, came second, as a result of the broad credit market rally. According to the index, all hedge fund strategies are positive year-to-date.