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.
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About Credit Suisse AG
Credit Suisse AG
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