Emerging markets came back strongly in October, the median posting a 1.94% gain although it is still underwater by 4.26% over the year to date.
Latin American specialists led the way, thanks in part to a 17.54% monthly gain by the MSCI Latam.
M Square Latin America Fund was up 5.96% on the month, taking year-to-date numbers to -5.99%. The fund’s multi-strategy manager was up over 10% on the month, while all of its long-biased managers contributed positively, one manager making gains as he unwound part of the FX hedges at favourable levels last month.
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