HEDGE FUNDS – Hedge funds took a hit in September but remain in positive territory for the year to date, according to figures collated from the CSFB/Tremont hedge fund index.

The index was down –0.8% for September but up 2.2% for the year to date, according to Roland Lorenzo, president and chief operating officer of Credit Suisse First Boston Tremont Index LCC.

However, despite the fall, the index still significantly outperformed the Dow Jones, which was 11.1% down, the S&P 500, 8.2% down and NASDAQ, 17% down, says Lorenzo.

He adds: “The year to date numbers speak volumes about the positive impact hedge funds have in diversified portfolios. The index is up 2.2% while all other indices are down between 18% and 39.3%.”