Hedge Funds Rise 1.97% In Second-Best Month Of '13

Oct 11 2013 | 1:00pm ET

Hedge funds posted their second-best monthly performance of the year in September, rising nearly 2%.

The Hennessee Hedge Fund Index added 1.97% on the month, its best performance since back in January, when it returned 2.64%. The jump left the benchmark up 8.58% on the year.

Healthcare and technology funds led the way, the former rising 4.72% on the month (25.89% year-to-date) and the latter 4.57% (13.25% YTD). Opportunistic funds also did well, jumping 3.77% (13.91% YTD).

Emerging markets funds were among the strongest performers in September. Overall, the strategy rose just 2.05% on the month (3.17% YTD), but regionally, Latin America and Asia-Pacific funds starred, rising 3.62% (down 1.86% YTD) and 3.42% (4.48% YTD), respectively.

Long/short equity added 2.62% (13.46% YTD), distressed 2.57% (11.13% YTD), value 2.47% (14.75% YTD), growth 2.05% (12.22% YTD), event-driven 1.82% (10.43% YTD), merger arbitrage 1.29% (6.03% YTD), high-yield 1.1% (4.4% YTD), macro 0.85% (down 1.22% YTD) and market-neutral 0.57% (3.61% YTD).

Short-biased funds plummeted a further 7.65% in September, leaving them down an average of 24.49% for the year. Convertible arbitrage funds dropped 0.66% (up 4.84% YTD) and fixed-income funds shed 0.04% (up 2.22% YTD).


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