According to Hennessee Group LLC, September proved to be a strong month for hedge funds. The funds' performance rose by 1.7%, a higher growth than equity and bond markets, The Wall Street Journal reports. During the month, the Standard & Poor's 500 stock index rose 0.69% and the Dow Jones Industrial Average 0.83%.

Market declines occurred in NASDAQ Composite (0.02%) and in bond markets (0.85%), as tracked by the Lehman Brothers Intermediate Government Corporate Bond Index.

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