HFRX INDICES MID-SEPTEMBER 2026 PERFORMANCE NOTES

Global financial markets declined through mid-September as rising Oil prices and interest rates weighed on risk sentiment, while renewed uncertainty surrounding AI-related investment contributed to weakness in Technology and Semiconductor equities. Global equity markets experienced increased volatility into mid-month as investors positioned for the U.S. Federal Reserve’s September policy decision amid persistent inflation pressures and expectations for tighter monetary policy. Interest rates rose, while the U.S. dollar strengthened against most major currencies. Commodities were mixed, with Oil and Natural Gas gaining amid renewed Middle East supply concerns, while Gold declined.

Hedge funds posted declines through mid-September, with the HFRX Global Hedge Fund Index declining -0.57%.

• HFRX Macro Index gained +0.85%
• HFRX Event Driven Index declined -0.33%
• HFRX Relative Value Index declined -0.73%
• HFRX Equity Hedge Index declined -1.41%

Comments reference performance figures as of September 15th, 2026