Hedge funds have a bouncy September

September was positive for Asian hedge funds, with the Asia ex-Japan index rebounding from a 0.9% fall in August to a 4.04% rise, according to Hedge Fund Research (HFR). Leading the charge were the energy, distressed/restructuring and convertible-arbitrage indices, each with positive monthly returns of around 4.5%. Year-to-date, convertible arbitrage is the leading strategy, with a 53% positive return, but bear in mind this follows 2008 when the strategy was one of the worst performe…