Raining returns: Long-only AIFs beat long-short strategies in August

Long-only alternative investment funds (AIF) strategies outperformed long-short funds in August. 
 

The former gave average category returns of 4.3 per cent, in comparison to 0.2 per cent for the latter, shows data from PMS Bazaar. 
 

Of the 16 long-only funds, 14 managed to beat the Nifty50 returns of 2.8 per cent during the month, while all seven of the long-short funds underperformed the benchmark. 
 

For a 1-year period, Girik Multicap Growth Equity Fund has been the best performer, with returns of 21.5 per cent.