Dow Jones Hedge Fund Index Ends Q3 On High Note

Oct 3 2007 | 11:28am ET

The going for many hedge funds was tough this summer, to say the least, but it wasn’t doom and gloom for everyone. Four of the six strategies covered by Dow Jones Hedge Fund Indexes posted net-of-fees gains in September, and five of the six strategies ended the third quarter in positive territory for the year.
 
Equity long/short funds were the best performers of the month, rising 4.86% in September, enabling the strategy to post a gain of 4.37% for the third quarter. With a return of 16.15%, the strategy is also currently the top performer for the year.
 
Merger arbitrage came in a close second, up 4.04% for the third quarter and 15.04% for the year.

Other strategies that were in the black last month include event driven and convertible arbitrage, which both gained more than 1% in September and are up 2.53% and 6.84%, respectively.
 
Equity market neutral funds were the lone sore spot, according to the index, dropping 0.63% in September and 0.38% for the year.


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