The Hennessee Hedge Fund Index advanced 3.48 per cent in September and is up 4.66 per cent year-to-date.

The Hennessee Hedge Fund Index advanced 3.48 per cent in September and is up 4.66 per cent year-to-date.

The S&P 500 advanced 8.76 per cent in September (2.34 per cent YTD), the Dow Jones Industrial Average increased 7.72 per cent (3.45 per cent YTD), and the Nasdaq Composite Index climbed 12.04 per cent (4.38 per cent YTD). 

Bonds advanced, as the Barclays Aggregate Bond Index increased 0.11 per cent (7.94 per cent YTD).

“Hedge funds had their best month since May of 2009 and continue to outperform the broad market year to date,” says Charles Gradante, co-founder of Hennessee Group. “While managers are concerned about elevated macro economic risks, we are beginning to see growing optimism about the equity markets in the short term.  The Federal Reserve is determined to create growth and inflation, benefiting equities, which look attractive relative to other asset classes.”