Hedge Funds Add 1.2% In Oct.

Nov 5 2013 | 8:13am ET

Hedge funds posted across-the-board, if underwhelming, gains in October, according to an industry benchmark.

Hedge Fund Research's HFRX Global Hedge Fund Index rose 1.2% last month and is up 5.54% on the year. By contrast, the Standard & Poor's 500 Index added about 4.75% in October and is up over 20% on the year.

Each of the 16 strategy and substrategy indices in the HFRX suite were in the black last month, led by master-limited partnerships, which returned 2.31% (20.77% year-to-date). Special situations funds added 2.25% (16.76% YTD), fundamental value funds 2.14% (13.06% YTD), equity hedge funds 1.92% (8.72% YTD), event-driven funds 1.8% (12.87% YTD) and fundamental growth funds 1.64% (2.4% YTD).

Equity-market neutral funds enjoyed an average 1.39% return (0.91% YTD), distressed restructuring funds 0.69% (5.4% YTD), systematic diversified commodity-trading advisers 0.66% (down 3.39% YTD), macro funds and CTAs 0.64% (down 2.06% YTD), credit funds 0.64% (6.36% YTD), merger arbitrage funds 0.5% (3.36% YTD), emerging markets funds 0.36% (1.13% YTD), relative-value arbitrage funds 0.34% (2.07% YTD), convertible arbitrage funds 0.33% (10% YTD) and multi-strategy funds 0.28% (0.45% YTD).


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Editor's Note