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 year.
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