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Portfolio > Alternative Investments > Hedge Funds

Hedge Funds Return 1.53% in October, S&P Says

By Staff Writer

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NEW YORK (HedgeWorld.com)–Hedge fund strategies in the S&P Hedge Fund Index returned 1.53% in October, bringing year-to-date returns for the period to 9.03%.

Performance was boosted by especially strong returns from the S&P Directional/Tactical Index, which returned 2.85% in October and 12.02% in the first 10 months of the year. The category includes long/short equity funds, futures funds and global macro funds.

Also doing well were strategies tracked by the S&P Event Driven Index, which returned 1.46% in the month, and is up a very solid 14.06% year-to-date through October. The Event Driven index is composed of merger arbitrage, distressed and special situations approaches.

The S&P Arbitrage Index didn’t have a great month, returning 0.19%, meaning its year-to-date returns barely budged, rising to 1.01%. The Arbitrage Index includes equity market neutral, fixed-income arb and convertible arb approaches.

Meanwhile, the Standard and Poor’s 500 stock index returned 5.5% and 19.42% in the same respective periods. The Lehman Brothers Aggregate U.S. Index fell 0.93% in October and returned 2.81% year-to-date. MSCI EAFE returned 6.17% in the month and is up 22.97% year-to-date.

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