US lags behind European hedge funds' performance

Funds invested in Europe have outperformed those invested in the North American market over the 12 months to 30 September and over three years to that date.

According to the MSCI hedge fund indices, the European market sub-index posted positive returns of 5.22% compared with the -4.65% achieved by the MSCI Hedge Fund North American Index this calendar year to the end of September.

Over one year the Hedge Fund Europe Index posted positive returns of 5.76%, compared with the North American index los