September was another winning month for hedge funds as the sector posted its third consecutive month of positive returns. The Eurekahedge Hedge Fund Index was up 0.96%1 in September and 2.59% for 3Q 2012 while September year-to-date the index is up 4.20%. Global markets rallied strongly during the month on the back of monetary easing steps taken by governments – the MSCI World Index was up by 2.29%2 during the month.
September 2012 and August 2012 returns
All regional mandates posted positive returns for the month on the back of rallies in the underlying markets. The month started off on a bullish note with signs of stabilising global economic growth and prospects of additional quantitative easing dominating the market sentiment. The rallies were driven by the opinion that the ECB’s bond buying program and QE3 announcement by the US Federal Reserve reduced the risk of a prolonged economic slowdown.
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1Based on 31.24% of funds which have reported September 2012 returns as at 9 October 2012
2 The MSCI AC World Index All Core – Local Currency