Hedge funds rose in value an average of 1.7 percent in September, ending the third quarter up 2.4 percent, according to a third quarter 2013 report from eVestment on hedge fund performance.
The report reveals that hedge funds returned an average of 5.7 percent though the first nine months of 2013. On an annualized basis, the industry is on pace to return 7.7 percent in 2013, slightly ahead of 2012's 7.2 percent.
"September's returns reflected the year-long trend of directional equity strategies outperforming the rest of the hedge fund industry on the back of the developed market strength," the report states. "Long-short equity funds are on track to post their best year since 2009 and second best since 2006, when they returned 26.7 percent and 15.3 percent, respectively. In both those years, the universe outperformed the S&P 500.
The following is a recap of aggregate hedge fund performance through September 2013:
