Lyxor: Hedge Funds Up Almost 2% In Sept.

Oct 8 2010 | 11:43am ET

The average hedge fund returned 1.97% last month, according to the Lyxor Hedge Fund Index.

September's performance, the year's strongest, pushed the index to 2.82% for the year.

Special situations funds enjoyed the best month, rising 4%. Equity long-bias funds also did well during the best month for the Standard & Poor's 500 Index and Dow Jones Industrial Average since the Great Depression, adding 3.91%. Global macro funds rose an average of 2.47%.

Given the stock market rally, it's no surprise to see short-bias hedge funds take the biggest hit in September. The average short hedge fund lost 7.96% on the month.

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