The Dow Jones Credit Suisse Hedge Fund Index (“the Index”) Gained 1.92% in October and is up 8.02% YTD.
A new monthly commentary offers insight into October hedge fund performance. Some key findings from the report include:
- Nine-out-of-ten strategies in the Index posted positive performance in October as rising global equity, commodity and credit markets provided tailwinds for managers across different strategies.
- Managed Futures was the best performing strategy for the month, up 4.29%, and is among the top performers in the Index for the year at 11.00%. Performance was led by trend followers which generally profited from long exposures to precious metals, equities, agriculture, and currencies.
- Long/Short Equity gained 2.00% in October, as managers benefited from a decrease in intra-index stock correlations and higher dispersion in stock prices. As a result of these developments, Long/Short Equity managers generally increased both gross and net exposures during the month.
- Global Macro managers were up 1.62% in October and led the Index in year-to-date performance with 11.10% gains. Managers profited most from fixed income trades, such as US Treasuries yield curve steepeners and long positions in the belly of the curve in response to QE2 expectations.
- Event Driven managers also had a positive month, generating 1.80% returns for October and 8.22% returns for the year. Managers in the space have generally been shifting focus towards small and mid-cap opportunities as larger companies needing to refinance debt have had easier access to the active capital markets.
Industry commentaries and publications are available on the Research section of our website, www.hedgeindex.com. Click here to view the full report which includes an overview of October hedge fund performance, in-depth commentary on individual hedge fund sectors and hedge fund return dispersion statistics for each strategy.
About Dow Jones Indexes
Dow Jones Indexes (www.djindexes.com) is a leading full-service index provider that develops, maintains and licenses indexes for use as benchmarks and as the basis of investment products. Best-known for the Dow Jones Industrial Average, Dow Jones Indexes offers more than 130,000 equity indexes as well as fixed-income and alternative indexes, including measures of hedge funds, commodities and real estate. Dow Jones Indexes employs clear, unbiased and systematic methodologies that are fully integrated within index families. Dow Jones Indexes is part of a joint venture company owned 90 percent by CME Group Inc. (www.cmegroup.com) and 10 percent by Dow Jones & Company, Inc. (www.dowjones.com), a News Corporation company (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV; www.newscorp.com).
About Credit Suisse AG
Credit Suisse AG
Credit Suisse AG is one of the world’s leading financial services providers and is part of the Credit Suisse group of companies (referred to here as ‘Credit Suisse’). As an integrated bank, Credit Suisse offers clients its combined expertise in the areas of private banking, investment banking and asset management. Credit Suisse provides advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as to retail clients in Switzerland. Credit Suisse is headquartered in Zurich and operates in over 50 countries worldwide. The group employs approximately 50,500 people. The registered shares (CSGN) of Credit Suisse’s parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.
In its Asset Management business, Credit Suisse offers products across a broad spectrum of investment classes, including hedge funds, credit, index, real estate, commodities and private equity products, as well as multi-asset class solutions, which include equities and fixed income products. Credit Suisse’s Asset Management business manages portfolios, mutual funds and other investment vehicles for a broad spectrum of clients ranging from governments, institutions and corporations to private individuals. With offices focused on asset management in 19 countries, Credit Suisse’s Asset Management business is operated as a globally integrated network to deliver the bank’s best investment ideas and capabilities to clients around the world.
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Certain information contained in this document constitutes “Forward-Looking Statements” (including observations about markets and industry and regulatory trends as of the original date of this document), which can be identified by the use of forward-looking terminology such as “may”, “will”, “should”, “expect”, “anticipate”, “target”, “project”, “estimate”, “intend”, “continue” or “believe”, or the negatives thereof or other variations thereon or comparable terminology. Due to various risks and uncertainties beyond our control, actual events, results or performance may differ materially from those reflected or contemplated in such forward-looking statements. Readers are cautioned not to place undue reliance on such statements. Credit Suisse has no obligation to update any of the forward-looking statements in this document.
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