One of the worst months for hedge fund performance in years saw the InvestHedge Global Multi-Strategy median down 1.87% in September – putting it severely underwater at -3.59% over the year to date.
Only a handful of funds were not negative on the month. One such was GAM Diversity, which gained 1.92% taking the year’s returns to 0.5%. Recently, trading managers have performed well within the portfolio, posting positive returns via exposure to government bonds and select emerging-market assets. Relative value managers also protected capital well.
Pinnacle Opportunity was up 1.33% on the month, taking year-to-date figures to