Hedge funds down in September
Eurekahedge: Hedge fund managers returned -0.44% in September, outperforming the global equity market as represented by the MSCI ACWI (Local) which returned -3.55% during the month. In terms of 2021 performance, global hedge funds were up 8.14%, recording the strongest September year-to-date return since 2009 despite the ongoing pandemic. Around 76.7% of the constituents of the Eurekahedge Hedge Fund Index generated positive returns in 2021. Approximately 32% of the launches and 39% of the closures within the industry that happened since 2008 were contributed by long/short equities hedge funds. Fixed-income hedge funds came in second in terms of launches after seeing an increase in popularity over the past few years. Small hedge funds managing up to US$20 million in assets account for more than half of the industry launch and closure activities. On the other end of the spectrum, it is worth noting that large hedge funds managing over US$1 billion worth of assets saw noticeably more launches than closures, reflecting the strong survivability of large hedge funds within the European hedge fund industry.