The top quarter of those hedge funds reporting thus far gained an average of 2.10% compared with the bottom quartile that reported average earnings right at the break-even mark. With the return data the year-to-date average gain for hedge funds is 11.91%, with the top 25% of hedge funds reporting a 16.70% return thus far and the bottom quarter up 3.50%, according to the HedgeFund.net-PerTrac Universes.
By comparison, the S&P 500 gained 4.23% in September and has returned 17.99% so far in 2003.
Among the best performing strategies in September were the Emerging Markets, returning 3.49%, Macro, up 2.6%, and Distressed, gaining 2.51%. Year-to-date, the three are up 26.26%, 16.87% and 22.85%, respectively. Conversely, the worst performing strategies this month were Short Bias, down 0.66% and Fixed Income and Technology, both with 0.35% returns. Year-to-date, Short Bias in now 17.57% in the red, while the other two are up 7.32% and 21.91%, respectively.
HedgeFund.net-PerTrac Universes are a feature of PerTrac Online, a hedge fund analytics tool available exclusively to registered users of HedgeFund.net. HedgeFund.net-PerTrac Universes chart the roughly 2,800 hedge funds that report their performance to the Web site. The HedgeFund.net-PerTrac Universes provide performance data on 35 hedge fund strategies.