Hedge Funds Post Small Gains In Sept.

Oct 4 2012 | 12:39pm ET

Hedge funds returned 0.47%, another disappointing month in a year filled with them.

The return, less than one-fifth that managed by the Standard & Poor's 500 Index in September, leaves the Dow Jones Credit Suisse Core Hedge Fund Index up 2.51% on the year. The S&P500 is up almost 14% in 2012.

Five of the seven hedge fund strategies tracked by Dow Jones gained ground in September. Long/short equity funds pulled themselves out of the red on the year with a 2.43% return (2.05% year-to-date), followed by event-driven funds, which added 1.46% (3.49% YTD). Convertible arbitrage funds rose 0.3% (5.9% YTD), fixed-income arbitrage funds 0.26% (1.74% YTD) and global macro funds 0.11% (4.86% YTD).

Managed futures funds, by contrast, plummeted into negative territory for the year with a  2.72% swoon in September (down 1.9% YTD). Emerging markets funds also fell into the red, losing 0.37% on the month (down 0.11% YTD).

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    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…