IndexIQ: Positive October For Hedge Funds

Nov 5 2013 | 8:07am ET

Hedge funds returned 1.44% in October, according to IndexIQ's industry replication index.

The IQ Hedge Composite Beta Index is now up 2.62% on the year and continues to badly trail the broader markets with just two months to go in 2013. The Standard & Poor's 500 Index is up more than 20% on the year.

IndexIQ's event-driven index added 3.11% last month (5.02% year-to-date). The long/short benchmark rose 1.58% (7.24% YTD), fixed-income arbitrage 1.31% (5.19% YTD), emerging markets 1.3% (down 3.39% YTD), global macro 0.93% (down 1.13% YTD) and market neutral 0.41% (2.91% YTD).

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