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Article: SEPTEMBER RESULTS: Hedge fund returns are down, but still top benchmarks.(Statistical Data Included)
- Article from:
- Pensions & Investments
- Article date:
- October 15, 2001
- Author:
CopyrightCOPYRIGHT 2001 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK - First, the bad news. Only about one-third of the 195 hedge fund managers who submitted September performance numbers to Managed Account Reports LLC showed positive returns. Likewise, only 10 of 33 hedge fund strategies in the Hedge Fund Research Inc. monthly performance indexes were positive in September.
But the good news is that overall, hedge fund strategies still outperformed mutual funds and the broader stock market indexes in September. The Standard & Poor's 500 stock index was down 8.1% in September. The Dow Jones industrial average fell 11.1%. The Lipper Inc. mutual funds index was down 10.8%.
Meanwhile, the Hennessee Hedge Fund Index, ...