Long/short equity managers turned in robust results in October as the equity markets bounced back from August lows, lifting median returns for the year to levels that are more than respectable.
Global long/short equity funds gained 3.74% for the month, according to the Absolute Return Global Equity Index, and are now up 13.65% for the year. The Absolute Return U.S. Equity Index posted a 2.49% gain for the month, taking it to 11.4% for the year. By comparison, the S&P 500 rose 1.48% for the month, closing at a record high of 1,565 on October 9. The MSCI