Hedge funds are on track to return an average 7.7% in 2013, slightly better than the 7.2% average hedge fund return in the prior year, according to eVestment.
Industry researcher eVestment made its year-end return estimate based on average returns so far this year: September, 1.7%; third quarter, 2.4%; and year-to-date Sept. 30, 5.7%.
In its September hedge fund performance report, eVestment analysts said long/short equity funds continue to ride the directional wave of the broader stock market this year, with an average September return of 3%; third quarter, 4.7%; and year-to-date Sept. 30, 10.6%. The long/short equity fund average was the best year-to-date return among primary hedge fund strategies tracked by eVestment.
