Hedge fund managers were down as the Eurekahedge Hedge Fund Index lost 0.32% in September, dragging their year-to-date return to 5.67% despite the recovering investor risk sentiment, which pushed the global equity market up 2.04% over the month.

The MSCI ACWI (Local) is still up 14.89% as of September 2019 year-to-date.

Roughly 50.6% of the underlying constitu