Another exceptionally difficult month for European hedge funds in September resulted in only a relatively small overall monthly loss across the industry as a whole – but with many individual funds and strategies suffering some big losses again.
Equity funds were the worst hit – with double-digit losses being seen among European, global and emerging market long/short funds for a second month running after August’s equity market carnage – although there were also a few notably strong performers amid the most difficult trading and investment conditions that many managers have seen for years.
Other non-equity strategy sectors generally fared less badly again in September – with some impressive performances among a variety of macro, managed futures, currency, fixed-income and credit funds.
With September numbers in for just over two-thirds of the funds reporting to the EuroHedge database, the overall EuroHedge Composite median return for the month is so far standing at -1.18%,...