HFRX: Hedge Funds Add 0.39% In Sept.

Oct 4 2012 | 11:02am ET

Hedge funds inched towards the finish line last month, returning 0.39%, according to Hedge Fund Research.

The HFRX Global Hedge Fund Index is now up 2.69% on the year, just slightly ahead of the 2.58% return for the Standard & Poor's 500 Index last month. The broader-market index is up almost 14% on the year.

Master-limited partnerships were the best-performing strategy of the month, up 1.94% (5.09% year-to-date). Special-situations funds rose 0.89% (3.19% YTD), fundamental value funds 0.83% (4.43% YTD), equity hedge funds 0.78% (3.4% YTD), fundamental growth funds 0.71% (3.62% YTD) and event-driven funds 0.67% (4.9% YTD).

Relative-value arbitrage funds added 0.43% in September (2.8% YTD), distressed restructuring funds 0.3% (3.45% YTD), credit funds 0.28% (4.85% YTD) and multi-strategy relative-value fund 0.27% (1.77% YTD).

On the losing side of the ledger, systematic diversified commodity-trading advisers fell 1.75% last month (down 4.75% YTD), macro funds and CTAs 0.52% (down 0.89% YTD), equity market-neutral funds 0.28% (down 5.38% YTD), merger arbitrage funds 0.26% (up 0.68% YTD), convertible arbitrage funds 0.26% (up 5.62% YTD) and emerging markets fund 0.1% (up 5.45% YTD).

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Editor's Note