Performance

Energy, Asia plays shape September returns

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By many accounts September was a repeat of August, with energy volatility defining clear winners and losers among long/short equity funds. For global funds, Asia was also a big contributor to strong performance. There, the markets saw a big rally, particularly in Japan, where the Topix rocketed 11.8%.

Overall, U.S. equity strategies reported a median 1.22% gain for the month, according to research by Absolute Return. By comparison, the S&P 500 rose 0.81%, and the Nasdaq Composite Index was flat, losing 0.02%. Meanwhile, global equity strategies climbed 2.86% for the month. That compares to a 2.63% rise for