Opalesque Industry Update - Hedge funds bounced back in September with the Greenwich Global Hedge Fund Index gaining +1.64%, 5.34% year to date, along with equity markets as measured by the S&P500, up +3.14%, MSCI World, up +4.82% and FTSE 100, up +0.77%. 76% of the Global Index’s constituents reported positive returns.
The Long-Short Equity group outperformed all major strategies gaining +3.11% in September. The group was led by Long/Short Growth funds which were up +3.77% for the month. The group’s gains were dampened by Short-Biased funds which posted a loss of -4.58% for September.
Distressed Securities rebounded from August losses to gain +2.65% in September, cementing their place as the top performers in 2013 up +13.86%.
Futures managers continued to struggle in September posting a small negative return of -0.38% and a 2013 YTD return of -3.26%.
Reacting to the US Fed’s decision to not start tapering, Emerging Markets showed strong growth in September with the Emerging Market Composite Index increasing by +3.92%. Latin American focused funds particularly outperformed this month growing +5.83% in September.