The LJH Global Investments hedge fund index fell 1.45% in September, mirroring other hedge fund indexes, which also lost ground last month. Only three of the 15 substrategies LJH tracks posted positive returns: The short-only index gained the most, posting a 5.65% return; the convertible arbitrage index was up 0.7%; and the European index inched up 0.08%. The biggest loser in September was the emerging markets index, down 5.87% for the month. The hedge fund numbers still outperformed the S&P 500 and the Russell 3000, which both lost about 8% in September. For the year ended Sept. 30, the overall LJH hedge fund index is up 2.07%, while the S&P 500 is down 21.16% and the Russell 3000 is down 21.53%.