Greenwich Index: Hedge Funds Add 1.86% In Oct.

Nov 6 2013 | 2:12pm ET

Hedge funds posted modest gains compared to the broader markets in October, according to a leading industry index.

The Greenwich Global Hedge Fund Index rose an estimated 1.86% last month, as the Standard & Poor's 500 Index returned 4.46%. On the year, the hedge fund benchmark is up 7.36%; the S&P 500 is up more than 25%.

Each of the eight strategies tracked by Greenwich Alternative Investments were in the black in October. Long/short equity funds added an average of 2.18% (11.96% year-to-date) and multi-strategy funds rose 2% (5.32% YTD). Futures funds rose 1.9% (down 1.69% YTD), long/short credit funds 1.68% (5.19% YTD), macro funds 1.61% (3.93% YTD), event-driven funds 1.56% (11.24% YTD), equity-market neutral funds 0.9% (3.47% YTD) and arbitrage funds 0.8% (5.73% YTD).

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