Hedge funds up 0.40 per cent in September

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Hedge funds gained 0.40 per cent in September, according to Lyxor, with underlying markets, as represented by the MSCI AC World Index (Local), up 2.17 per cent over the same period.

On a year-to-date basis, managers gained 5.50 per cent while underlying markets were up 11.97 per cent.
 
Among developed mandates, Japanese hedge funds posted a return of 2.01 per cent, followed by North American and European counterparts which were up 0.89 per cent and 0.85 per cent for the month respectively. On a year-to-date basis, Japanese managers were up 9.13 per cent followed by European and North American managers who posted gains of 5.89 per cent and 4.23 per cent respectively.
 
CTA/managed futures hedge fund managers posted the steepest decline this month, down 1.46 per cent followed by distressed debt hedge funds which retracted 0.68 per cent over the same period.
 
Emerging market mandates were up 1.24 per cent for the month with strength led by underlying Latin America and Asia ex-Japan mandates. Frontier markets, as represented by the Eurekahedge Frontier Markets Hedge Fund Index, is down 0.15 per cent for the month.
 
The Eurekahedge Long Short Equities Hedge Fund Index posted the best gains during the month, up 1.45 per cent with strength led by underlying equity long-bias hedge funds which gained 1.66 per cent over the same period.
 
Asia ex-Japan mandated hedge funds gained 1.35 per cent during the month with underlying Greater China hedge fund managers led the strength up 1.17 per cent while India hedge fund managers retracted 0.20 per cent over the same period. On a year-to-date basis, Greater China and India mandated hedge funds posted impressive gains, up 21.04 per cent and 20.04 per cent respectively.
 
Among volatility focused hedge funds, short volatility hedge funds topped the table for September, gaining 0.89 per cent while long volatility hedge funds posted a decline, down 0.35 per cent. On a year-to-date basis, short volatility hedge funds gained 7.54 per cent while tail risk hedge funds were down 11.22 per cent year-to-date.