Composite dips after seven positive months
After seven months of consecutive gains for the equity markets, October was not only the first down month for the equity markets since March 2009, but consequently also for the fund of hedge funds markets. The InvestHedge Composite for the fund of funds industry in October was down 0.11%, but the year-to-date returns are still a healthy 7.65%. Global multi-strategy was flat in October but up 9.59% for the year.
All strategies were either marginally above or below zero with fixed income and arbitrage making the largest gains in October, up 0.9% and