With the global markets maintaining their forward momentum through September, the hedge fund sector also continued its positive performance for the seventh straight month. The Eurekahedge Hedge Fund Index recorded a gain of 2.6% for the month and 6% for 3Q2009, bringing the YTD returns to 16.1%. This is the best year-to-September performance on record for the composite index in a decade, with 2009 performance promising to go beyond the previous high set in 2003.
The strong returns for September were delivered on the back of global markets continuing the rally seen since March (most major indexes maintained their upward trend during the month). 3Q2009 has seen a steady flow of positive macroeconomic data emanating from major economies, driving the markets upwards and helping hedge fund managers to achieve record performance.
With the exception of Japan, which was marginally negative, all regions have delivered strong positive returns for the month. Most of the regions were near or above 3% while the Eurekahedge Eastern Europe and Russia Hedge Fund Index was up a massive 11.56% during September, outperforming the MSCI EM Eastern Europe Index by 2%. Equity markets across Eastern Europe made strong gains, while the Russian RTS Index rose by 17.6%, up an incredible 151% since the lows seen in January 2009.
The chart below shows the hedge fund returns for August 2009, September 2009 and 2009 YTD across the different geographical mandates.
Eurekahedge Performance Indices - Regions
In terms of strategic investment mandates, the best performers for the month were...
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