Hedge fund managers ended the month of September down 0.67% on an equal-weighted basis, and down 0.77% on an asset-weighted basis. Market risk sentiment shifted lower due to concerns over rising inflation driven by supply chain bottlenecks and the developing energy crisis in Europe and China.
On a year-to-date basis, global hedge funds were up 8.16% over the first 9 months of 2021, recording the strongest September year-to-date return since 2009 despite the ongoing pandemic.
Returns were negative across geographic mandates in September with European hedge funds in the lead with a return of -0.12% while Latin American hedge funds lagged their geographic peers with a return of -2.01%. Across strategies, distressed debt and event driven hedge funds outperformed their strategic peers with returns of 0.85% and 0.62% respectively throughout the month.
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