Hedge Funds Fell 0.31% in September as Flows Turned Negative

Hedge funds remained up 8.27% since the start of 2026 and 12.99% over the past 12 months, according to the SS&C GlobeOp Hedge Fund Performance Index.

The asset-weighted index tracks the returns of funds administered through SS&C GlobeOp’s platform. The firm reported the September decline in its latest update.

The SS&C GlobeOp Capital Movement Index fell 0.16 points in October to 132.94. The decline reflected net redemptions and coincided with portfolio rebalancing at the end of the quarter. The index was 5.45 points above its level a year earlier.

The Capital Movement Index measures investor subscriptions and redemptions as a share of assets under administration. SS&C GlobeOp’s Forward Redemption Indicator tracks expected withdrawals and provides a measure of potential demand for liquidity.

Bill Stone, chairman and chief executive officer of SS&C Technologies, cited the U.S. midterm elections, possible further interest-rate increases, geopolitical tensions and volatile energy prices as risks for investors in the final quarter of 2026.

Stone described hedge funds as an option for investors seeking to limit losses and improve risk-adjusted returns during periods of market uncertainty.

SS&C GlobeOp’s administration platform represents about 10% of estimated global hedge fund assets. Its indices cover several investment strategies.

The next update to the SS&C GlobeOp Capital Movement Index is scheduled for Nov. 12, 2026.