Wednesday, 7 October 2015
Last updated 21 hours ago
Oct 5 2010 | 2:38pm ET
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).
Oct 7 2015 | 4:57am ET
Charity A Leg To Stand On (ALTSO) will hold its 12th Annual Hedge Fund Rocktoberfest – NYC on October 15 and its 4th Annual Rocktoberfest - Chicago on October 22. Read more…