Reuters – Hedge funds finally have a little something to brag about, losing less money in September than the average mutual stock fund manager, according to data released on Tuesday.
The HFRI Fund Weighted Composite Index, a widely watched performance gauge for the $3 trillion global hedge fund industry, slipped 0.4 percent in September, a month when the S&P 500 index fell 1.4 percent. The average U.S. stock mutual fund manager lost 2.92 percent, Lipper data showed.
