Hedge funds as measured by both the Greenwich Global Hedge Fund Index (GGHFI) and the Greenwich Composite Investable Index (GI2) significantly outperformed global equity indices despite posting their greatest losses since August 1998 during the month of September, according to Greenwich Alternative Investments.
The GGHFI and GI2 posted declines of -4.85% and -5.87% on the month, respectively, compared to global equity returns in the S&P 500 Total Return (-8.91%), MSCI World Equity (-12.08%), and FTSE 100 (-13.02%) equity indices. Year-to-date, the GGHFI and the GI2 have shed -8.85% and -8.82%, respectively, while the S&P 500 Total Return, MSCI World Equity, and FTSE 100 Indices have lost -19.29%, -25.59%, and -24.07%, correspondingly. Twenty-four percent of constituent funds in the GGHFI ended the month with gains.