U.S. hedge funds continued their rally in October on the
back of strong performance in the technology, global equity and
macro strategies. The Absolute Return Composite Index
gained an estimated 2.20% in October, its strongest monthly
return this year. The Composite is now up 9.35% for the
With its strongest monthly performance since February 2000,
the Absolute Return Technology Index advanced 4.08%,
bringing its year-to-date return to 14.93%. The Global Equity
and Macro Indexes were similarly positive, producing monthly
returns of 3.99% and 3.30%, respectively.
On the back of strong rallies in the commodity arena, with
gold reaching a 27-year high, the Absolute Return
Commodities Index and Managed Futures Index produced solid
gains of 3.06% and 3.17%, respectively. These have been their
strongest monthly returns for the year so far.
None of the Absolute Return Indexes lost money in