Hedge funds breathe short sigh of relief in September

(CNBC) September has brought a much-needed reprieve for the global hedge fund industry following a year of mounting criticism and investor agitation over its high fees and disappointing performance.

Aggregate hedge funds gained 0.91 percent in September,according to data provider Preqin, compared to 0.02 percent for the benchmark S&P 500 equity index and 0.59 percent for a composite equity/bond benchmark composed of the MSCI World Index and the Citi World Government Bond index.

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