Hedge funds, as measured by the HFN Hedge Fund Aggregate Average, posted their best one-month return in four years last month, rising 3.27%. It was also their second-best one-month return in eight years. Year to date through the first nine months, they are up 9.4%.

The Federal Reserve’s interest rate cuts have helped hedge funds, boosting hedge fund strategies that had faltered in August. Commodity funds, for instance, did well; the HFN CTA/Managed Futures Average rose 6.15% in the month.

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