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Alternative Market Briefing

Opalesque Roundup: Hedge funds show mixed September results with strategy divergence

Monday, October 13, 2025

The hedge fund industry delivered mixed results in September, with performance patterns highlighting the widening dispersion between strategies. According to Reuters data, hedge funds returned approximately 1.3% for the month, with regional differences emerging as Europe, Asia, and Middle East managers outperformed their North American counterparts. HFRI indices surged in September, led by Macro and CTAs, with the Fund Weighted Composite gaining 2.4% for the month and 5.7% in Q3, as reported by Opalesque. The equity long/short and multistrategy funds posted modest gains, while macro and quantitative strategies lagged amid rate and commodity market volatility. Business Insider reported that multistrategy giants including Citadel, Balyasny, and ExodusPoint remained positive in September, adding to year-to-date gains as the S&P 500 rose 3.5%. This performance divergence underscores the importance of strategy selection in the current environment, with approximately 80% of funds advancing during the period.

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