Hedge funds end October in positive territory
Volatility spikes at the end of October hit many hedge fund strategies, with the Credit Suisse/Tremont Broad Hedge Fund Index returning a modest 0.13 per cent for an eighth consecutive month of positive returns, according to a report by Lipper.
The Broad Hedge Fund Index returned a year-to-date performance of 15.11 per cent.
All hedge fund strategies except equity market-neutral, long/short equity, and managed futures posted positive performance for October.
Posting its first month in the black after February this year, the best performing hedge fund strategy was dedicated short-bias (returning a remarkable 4.79 per cent), while the worst performing strategy was managed futures at minus 2.17 per cent.
Monthly performance dispersion among Credit Suisse/Tremont hedge fund strategy indices in October dramatically dropped from September’s reading, returning to June’s level and ending at 696 basis points.
Over October the average performance for the 7,000 hedge funds tracked by Lipper was a positive 0.30 per cent—17 bps higher than the Credit Suisse/Tremont Broad Hedge Fund Index.
Reversing the pattern to easing after September recorded a 72.09 reading—down from August’s record at 114.95—a 99.06-percentage-point monthly performance difference in October divided the top and bottom performers of the 7,000 actively reporting hedge funds tracked by Lipper.
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