Most credit-focused hedge funds made a modest profit last month. Two Cheyne Capital funds stood out for their strong October returns, with the Cheyne Long Short Credit Fund gaining 11.84% on the month and the Cheyne Total Return Credit Fund posting a gain of 9.94%.
IFPC Zenith High Yield Bond was up 5.04%, while Alcentra Structured Credit Opportunity made 2.11%. BlueCrest Mercantile gained 1.69%, Lucidus G4 was up 1.59%, RAB European Credit Opportunities was up 1.39% and LGIM Global Opportunities Fixed Income returned 1.38%.
Well-performing newcomer Nightscape Global Value made 0.81%, Avoca Credit Alpha returned 0.24%, the Brummer-affiliated