Equity Hedge Funds Continue To Lead In September 2023

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HFA Staff
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PivotalPath has released their monthly report, the Pivotal Point Of View, which measures performance among 2,600+ institutionally-relevant hedge funds. In short, the Composite remained essentially flat (slightly up), despite some macro concerns that likely brought the markets down. There’s a lot more in the report about dispersion, which strategies were up or down, and how interest rates and the global economy impacted hedge funds.

The PivotalPath Composite Index was essentially flat, +10bps, in September amid interest rate concerns and global hard landing recession fears. The S&P 500 Index (S&P) and Nasdaq Index (Nasdaq) continued to decline.  The S&P declined 4.8% and the Nasdaq declined 6.0%. Year-to-date (YTD), the PivotalPath Composite Index is up 4.5%, while the S&P is up 13.1% and the Nasdaq has climbed 26.3%.

Q3 2023 hedge fund letters, conferences and more

Pivotal Point of View October 2023

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The post above is drafted by the collaboration of the Hedge Fund Alpha Team.