Hedge Funds

Hedge funds' gains in Sept highest in 16 months - Eurekahedge

SINGAPORE (Reuters) - Hedge funds chalked up their strongest gains in 16 months in September, helped by climbing stock prices around the world, according to data from Singapore-based fund tracker Eurekahedge.

Eurekahedge said its hedge fund index was up 3.45 percent month-on-month at end-September, raising returns since the start of the year to 5.15 percent.

“All regions and strategies posted positive returns in September, as Greater China hedge funds gained 7.02 percent during the month,” the Singapore-based firm said in a statement.

Eurekahedge publishes a series of indices on a monthly basis, measuring the returns of hedge funds by region and investment strategy.

In terms of regional mandates, hedge funds investing in emerging markets advanced strongly in September, with Asia ex-Japan managers delivering the best performance of 6.03 percent. They were followed by funds focused on Eastern Europe and Russia, which managed gains of 3.90 percent.

Among the different strategies employed by hedge fund managers, long-short equities delivered the best performance with a gain of 4.33 percent during the month of September.

Eurekahedge said the strong performance by hedge funds in September was helped by rising financial markets, with the MSCI World Index gaining 6.75 percent and bonds rallying amid speculation of further quantitative easing by the U.S. Federal Reserve.

Reporting by Kevin Lim; Editing by Muralikumar Anantharaman