NASHVILLE, Tenn.–(BUSINESS WIRE)–Oct. 14, 2003–Van Hedge Fund Advisors International, Inc. (VAN) announced today that the Van Global Hedge Fund Index rose 0.8% net in September. The Index’s returnrepresents the average September performance, net of fees, of over 800 hedge funds that have reported to VAN so far this month. Performance for the Index was the same whether including or excludingfunds of funds. September performance was tilted slightly in favor of hedge funds domiciled outside of the U.S. as the Van Offshore Hedge Fund Index gained 1.0% net while the Van U.S. Hedge FundIndex earned 0.7% net.<\/p>\n
“Although all the major U.S. stock market benchmarks were down last month, hedge funds continued to generate gains,” stated George Van, Chairman of VAN. “September’s positive return, while modest, marks the seventh straight winning month for the Van Global Hedge Fund Index. About seven out of ten funds have reported a profit for September, with average gains in thirteen out of the fourteen hedge fund strategies we track.”<\/p>\n
The best performing strategies for September were Emerging Markets, Distressed Securities and Macro, which returned 4.0% net, 2.6% net, and 2.3% net in the Global Index, respectively. Short Selling hedge funds took advantage of the pullback in equities to post their first average monthly gain, 1.5% net, since February. The sole losing strategy last month was Aggressive Growth, a primarily long\/short equity strategy that targets companies with strong growth prospects; those funds averaged a -1.0% net loss.<\/p>\n
The Van Global Hedge Fund Index produced a 3.3% net return in the third quarter. The Index has gained 11.6% net for the year to date. The Index’s best performing strategies so far this year are Emerging Markets, Distressed Securities, and Aggressive Growth, with net gains of 28.2%, 19.7%, and 18.3%, respectively. Emerging Markets hedge funds this year are producing their strongest returns since 1999, thanks in part to booming equities in countries such as Brazil and Russia.<\/p>\n
The Van Global Hedge Fund Index reached a new high value of 10,095.58 in September. The Index began with a value of 1,000 in January 1988. The Index has generated a net compound annualized return of 15.8% over its 15 year, 9 month history versus 11.9% for the S&P 500. Past performance of the Van Global Hedge Fund Index may be viewed at www.hedgefund.com.<\/p>\n
Final September returns for the Van Hedge Fund Indices will be calculated at the end of October, based on a substantially larger sample of hedge fund returns. Those results will supersede the returns reported herein, should they differ. Final September returns will be posted at www.hedgefund.com.<\/p>\n
As currently calculated, September and year-to-date 2003 hedge fund returns by strategy are as follows: <pre><br><br> Global U.S. Offshore<br> ———— ———— ————<br> Sept. YTD Sept. YTD Sept. YTD<br> 2003 2003 2003 2003 2003 2003<br>————————————- —— —– —— —– ——<br>Aggressive Growth -1.0% 18.3% -0.7% 18.9% -1.8% 17.4%<br>————————————- —— —– —— —– ——<br>Distressed Securities 2.6% 19.7% 2.6% 18.4% 2.7% 20.9%<br>————————————- —— —– —— —– ——<br>Emerging Markets 4.0% 28.2% 2.2% 24.1% 4.4% 29.3%<br>————————————- —— —– —— —– ——<br>Income 1.3% 6.5% 1.5% 7.0% 1.0% 6.0%<br>————————————- —— —– —— —– ——<br>Macro 2.3% 10.6% 2.2% 10.9% 2.3% 10.5%<br>————————————- —— —– —— —– ——<br>Market Neutral – Arbitrage 0.9% 5.8% 1.0% 6.0% 0.8% 5.5%<br>————————————- —— —– —— —– ——<br>Market Neutral -<br>Securities Hedging 0.1% 4.4% 0.1% 3.8% 0.1% 4.7%<br>————————————- —— —– —— —– ——<br>Market Timing 1.6% 7.1% 1.2% 7.3% 2.5% 7.4%<br>————————————- —— —– —— —– ——<br>Opportunistic 0.1% 15.9% -0.2% 17.7% 0.5% 14.5%<br>————————————- —— —– —— —– ——<br>Several Strategies 0.2% 12.8% 0.2% 16.0% N\/A N\/A<br>————————————- —— —– —— —– ——<br>Short Selling 1.5% -16.2% 1.6% -14.9% 1.3% -17.9%<br>————————————- —— —– —— —– ——<br>Special Situations 1.1% 13.0% 1.1% 13.7% 1.2% 12.7%<br>————————————- —— —– —— —– ——<br>Value 0.3% 14.6% 0.5% 15.5% 0.2% 13.4%<br>————————————- —— —– —— —– ——<br>Van Hedge Fund Index<br>(ex Funds of Funds) 0.8% 12.4% 0.6% 12.7% 1.0% 12.0%<br>————————————- —— —– —— —– ——<br>Funds of Funds 1.3% 8.2% 1.5% 9.1% 1.0% 7.1%<br>————————————- —— —– —— —– ——<br>Van Hedge Fund Index 0.8% 11.6% 0.7% 12.4% 1.0% 11.3%<br>————————————- —— —– —— —– ——<br><\/pre><\/p>\n
Van Hedge Fund Advisors International, Inc. (“VAN”) is a global hedge fund advisory firm which constructs hedge fund portfolios for international institutions and wealthy investors. VAN bases its work on its pioneering research on hedge funds begun in the early 1990s and by drawing on a hedge fund database which it believes to be the world’s largest.<\/p>\n
The Company’s hedge fund index information is based on information received (and not audited or independently verified) from the hedge funds in an affiliate’s databases and may not be representative of all hedge funds. Hedge fund returns are net of fees and performance allocations. The timing of the deduction of such fees and performance allocations may affect the reported performance. The September Index as reported herein was created using a sample of 808 funds. Different statistics may be based on different numbers of funds. Averages are not dollar-weighted. Past results are not necessarily indicative of future performance.<\/p>\n","protected":false},"excerpt":{"rendered":"
NASHVILLE, Tenn.–(BUSINESS WIRE)–Oct. 14, 2003–Van Hedge Fund Advisors International, Inc. (VAN) announced today that the Van Global Hedge Fund Index rose 0.8% net in September. The Index’s returnrepresents the average September performance, net of fees, of over 800 hedge funds […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-1391","post","type-post","status-publish","format-standard","hentry","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/1391","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=1391"}],"version-history":[{"count":0,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/1391\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=1391"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=1391"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=1391"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}