Hedge Funds Down 0.52% In Oct.

Nov 6 2012 | 11:53am ET

Hedge funds took a hit in October, along with the broader markets—although at least it was not quite as big a hit.

Hedge Fund Research's HFRX Global Hedge Fund Index shed 0.52% last month, while the Standard & Poor's 500 Index dropped almost 2%. But on the year, the latter is up in excess of 12%, while the average hedge fund is up just 2.15%.

Most strategies tracked by the HFRX indices were in the red last month, none more so than systematic diversified commodity trading advisers, which lost 3.01% (down 7.62% year-to-date), and distressed restructuring funds, which fell 2.99% (up 0.36% YTD). Merger arbitrage funds lost 1.37% (down 0.7% YTD), macro funds and CTAs 1.06% (down 1.94% YTD), event-driven funds 0.86% (up 4.01% YTD), fundamental growth funds 0.85% (up 2.74% YTD) and relative-value arbitrage funds 0.74% (up 2.04% YTD).

On the (quite a bit smaller) other hand, fundamental value funds rose 0.9% (5.37% YTD), equity hedge funds 0.43% (3.84% YTD), master-limited partnerships 0.3% (5.4% YTD), multi-strategy funds 0.23% (2% YTD), fixed-income credit funds 0.18% (5.04% YTD) and equity market-neutral funds 0.17% (down 5.22% YTD).


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Editor's Note