Long/short equity hedge funds ended the third quarter in positive territory as improving global macroeconomic data continued to suggest an economic recovery, according to data from Credit Suisse.

September marked yet another positive month for long/short equity hedge funds as managers posted their highest third quarter returns in four years. Not surprisingly, the majority of gains came from the long side of their books as managers continue to capitalize on global equity rallies.

The Credit Suisse Long/Short Equity Replication Index was up 1.02 per cent (net) for the month, finishing up 4.60 per cent for the third quarter.

By contrast, the Credit Suisse Global Macro Replication Index finished down 0.18 per cent (net) in September, returning -0.07 per cent in the third quarter.

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