The healthcare sector went on a tear beginning in 2011, thanks in large part to the passage of the Affordable Care Act and its impending implementat
Thursday, 19 January 2017
Last updated 18 hours ago
Nov 10 2011 | 10:52am ET
Hedge funds gained ground last month—but only a fraction of the ground gained by the broader markets.
The Greenwich Global Hedge Fund Index returned 2.27% in October, a month in which the Standard & Poor's 500 Index soar 10.93%. The index remains down 3.2% on the year, while the S&P500 ended the month near break-even.
Two out of three hedge funds tracked by Greenwich Alternative Investments gained ground. Long/short equity funds rose an average of 5.32% last month, with market-neutral funds adding more than 2%. On the other hand, futures funds shed 2.55% and macro funds 0.53%.
"Concerns over Europe began to lift in October and hedge funds were able to benefit from the rise in equity prices," Greenwich AI's Clint Binkley said. "Long/short managers performed well given their cautious stance entering the month."