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October 10, 2006
Hedge Funds Return +0.10% in September
The Greenwich-Van Global Hedge Fund Index returned +.10% in September according to a preliminary report released today by Greenwich-Van Advisors, LLC, a leading hedge fund index provider. In comparison, the S&P 500, NASDAQ, Nikkei 225 and the Lehman Brothers Aggregate Bond Index returned +2.58%, +3.42%, -.08% and +.88%, respectively.
"Hedge funds on the whole were up for the month, despite market conditions which continued to adversely affect certain investment strategies," notes Ben Rossman, General Manager of the Database and Index Group. "As was the case in August, short sellers ended up in negative territory, amid September's rising bond and equity markets. Declines in precious metals and energy contributed to widespread loss across futures strategies. Fixed-income funds posted strong results, owing to the bond rally during the latter half of the month. Long-biased equity strategies also fared well, encouraged by market perception of a reduced likelihood of increases in interest rates, following the US Federal Reserve's September 20 decision to hold steady the federal funds rate."
The Index represents the average performance, net of fees, of hedge fund managers that report to Greenwich-Van. Past performance and index construction methodology may be viewed at www.greenwich-van.com. Greenwich-Van Advisors, LLC manages one of the world's largest hedge fund databases and is among the oldest providers of hedge fund indices and research to institutional investors worldwide.
The September 2006 Greenwich-Van Global Hedge Fund Index preliminary results included 434 funds. An updated September return for the Index, based on a larger sample of funds, will be released in mid-October; final results will be available at the end of October. Additional Greenwich-Van Indices, which show average September hedge fund performance for individual investment strategies and broad strategy groups, will also be available at mid-month and month-end.
The accuracy of information reported by managers is not independently verified and may not be representative of all hedge funds. Greenwich-Van does not necessarily perform due diligence on reporting managers. Hedge fund returns are net of underlying fees and performance allocations, the timing of which may affect reported performance. Averages are equal-weighted. Past results are not indicative of future performance.
-Forbes-
Posted by su at October 10, 2006 4:28 PM