The Credit Suisse/Tremont Hedge Fund Index was down 6.55% in September, representing the second worst month of performance on record in a decade. The worst month on record was August 1998 when the index charted a 7.55% drop in returns.

For September, hedge fund strategies took a beating across the board, and the results follow August's return of -1.81% for the index. The index's year-to-date return was -13.88%.