Replication Index Up 1.65% In Oct.

Nov 4 2013 | 11:48am ET

Hedge funds opened the fourth quarter with gains but once again failed to beat the broader markets, according to an industry replication index.

The Credit Suisse Liquid Alternative Beta Index rose 1.65% in October, while the Standard & Poor's 500 Index added about 4.75%. On the year, the hedge fund benchmark is up 6.01%—and the S&P500 23.5%.

Event-driven was the best-performing strategy in October, rising 2.42% (9.12% year-to-date), followed by long/short at 2.16% (7.08% YTD). Global strategies added 1.22% on the month (4.59% YTD).

Both merger arbitrage and managed futures lost ground last month, with the former down 0.36% (up 6.5% YTD) and the latter 0.47% (up 3.24% YTD).

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Editor's Note

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    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…