Hedge Funds Gains
Hedge Funds Return Year's Largest Gains in September
Hedge funds badly lagged the stock market rally last month, despite producing their best returns of the year.
The average hedge fund added 3.58% in September, according to the Credit Suisse Liquid Alternative Beta Index. But that's cold-comfort for the industry, given the 8.9% jump of the Standard & Poor's 500 Index, it's best September performance since 1939.
The overall LAB index is up 5.45%, besting the S&P500's 3.9%.
Long/short funds were up an average of 5.41% on the month (5.3% year-to-date), according to the LAB indices. Event-driven was not far behind at 4.65% (8.89% YTD).
Merger arbitrage funds added an average of 1.96% (7.64% YTD) and global macro funds 0.45% (2.26% YTD). Source