Hedge funds are supposed to hedge. This year, they haven't. The fund-weighted composite index compiled by Hedge Fund Research, a firm that tracks the industry, fell by 4.7% in September, the second-worst month on record. Since the start of the year it has lost 9.4%. The industry's promises of "absolute returns" for investors now ring rather hollow.rnTo be fair to them, hedge funds have not been allowed to hedge. The restrictions on short-selling (betting on falling prices) imposed by regulators round the globe have played havoc with managers' strategies in recent weeks.
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机译：对冲基金应该对冲。今年，他们没有。追踪该行业的公司对冲基金研究公司（Hedge Fund Research）编制的基金加权综合指数在9月下跌了4.7％，是有记录以来的第二个最低月。自今年年初以来，它已经损失了9.4％。该行业为投资者提供“绝对回报”的承诺现在变得空洞了。为了公平起见，对冲基金不允许对冲。全球监管机构对卖空的限制（押注价格下跌）在最近几周对经理人的策略造成了严重破坏。
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