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Breaking a two-month losing streak, hedge funds profited from the October market surge. The Hedge Fund Intelligence Global Composite Index rose 1.08%, leaving it down 1.44% for the year. The equity market rally handily exceeded hedge fund returns, however, with the MSCI World Index (net) rising 10.34% for the month.
All indices were positive in October, except for the Managed Futures and Macro indices which fell 2.19% and 1.07%, respectively. Event Driven was the best performing strategy during October, following five consecutive losing months, with a gain of 3.60%.