HFRU INDICES: SEPTEMBER 2026 PERFORMANCE NOTES

In September, global financial markets posted declines amid elevated volatility as rising Oil prices and interest rates weighed on risk sentiment, while uncertainty surrounding the sustainability of AI-related investment contributed to sharp swings in Technology and AI-sensitive equities. Global equity markets declined for the month, with weakness across U.S. and international markets as investors adjusted to higher borrowing costs and persistent inflation pressures. Interest rates rose sharply after the U.S. Federal Reserve increased its policy rate, as investors positioned for interest rates to remain higher for longer. The U.S. dollar strengthened against most major currencies. Commodities were mixed, with Oil posting strong gains amid continued uncertainty surrounding the Iran military conflict and global energy supplies, while Gold and agricultural commodities declined.

The HFRU Hedge Fund Composite Index declined -0.69% in September.

• HFRU Macro Index gained +0.34%
• HFRU Event Driven Index declined -0.40%
• HFRU Equity Hedge Index declined -0.96%
• HFRU Relative Value Index declined -1.00%

Comments reference performance as reported on September 30, 2026