Hedge fund managers were up 0.26 per cent in October, pushing their year-to-date return to 6.21 per cent, according to Eurekahedge’s latest Index Flash Update. The US-China partial trade agreement supported the risk sentiment among investors, which pushed the global equity market up 1.93 per cent over the month.
On an asset-weighted basis, hedge funds were up 0.62 per cent in October, as captured by the Mizuho Eurekahedge Hedge Fund Index (USD). The index was up 4.84 per cent over the first 10 months of the year.
The Eurekahedge North American Hedge Fund Index edged 0.53 per cent higher during the month as the optimism towards the resumption on the US-China trade negotiations and robust corporate earnings boosted US equities. The S&P 500 was up 2.04 per cent throughout the month.
The Eurekahedge Greater China Hedge Fund Index was up 3.13 per cent in October. The postponement of the US tariff hike as a result of the US-China trade negotiations provided support to the performance of the Asian equities.
Hong Kong-based hedge fund managers were up 1.34 per cent during the month, up 6.75 per cent October 2019 year-to-date. Almost 75 per cent of the fund managers based out of Hong Kong have posted positive performance as of October 2019 YTD, with 33 per cent of managers posting double digit gains for the year.
Fund managers utilising AI/machine learning strategies registered 0.89 per cent return in October. On a year-to-date basis, the Eurekahedge AI Hedge Fund Index is up 4.16 per cent.
The Eurekahedge Crypto-Currency Hedge Fund Index was up 8.53 per cent in October, trailing behind Bitcoin which ended the month up 14.09 per cent. Fund managers focusing on crypto-currencies are up 37.23 per cent over the first 10 months of 2019, which compares to the 138.65 per cent year-to-date gain posted by Bitcoin.
