BofA, Merrill Lynch: Hedge Funds On Winning Streak

Hedge funds continued their winning run, gaining another 0.72% on the week ending October 14 and are up 1.2% MTD, according to analysts at Merrill Lynch.

Performance remains robust after a strong September (2.5%) with all strategies we track on a daily basis positive MTD.

Hedge funds have already gained for 7 straight months and are up 14.5% YTD. At the current pace they are on target for an annualized return of 19% -- the best this decade, according to the BofA/Merrill Lynch Hedge Fund Monitor. Convertible Arbitrage and Event Driven are the biggest winners YTD. Equity L/S is the best performers so far in Oct (1.58%).