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Portfolio > Alternative Investments > Hedge Funds

MSCI Hedge Fund Index Returns 1.9% in October

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NEW YORK (–Hedge funds in the MSCI Hedge Fund Index turned in another strong month in October with returns of 1.9%, bringing year-to-date returns to 13.3%, based on preliminary data.

Solid returns were reported among four of MSCI’s process group hedge fund categories, the exception being the MSCI Relative Value Index, which still did OK.

The MSCI Security Selection Index returned 2.6% in October and 16.9% in the first 10 months of the year. The Security Selection index includes equity-based strategies, such as long/short equity, market neutral and short-biased funds.

The MSCI Specialist Credit Index returned 1.8% in October and is up a strong 18.6% in the year-to-date period through October. The return for September was revised slightly to 1.7% from the preliminary return of 1.8%. The Specialist Credit index includes distressed funds, long/short credit funds and private placement funds.

Event-driven and multi-process funds, included in the MSCI Multi-Process Group Index, returned 1.8% in October and 16.9% in the year-to-date period through October. September’s preliminary return for the Multi-Process category was revised downward to 1.8% from the preliminary return of 2.3%.

The MSCI Directional Trading Index, which includes global macro and futures funds, returned 1.6% in October and is up 9.9% this year through October. The September return for that process group was revised to 1.2% from 1.1%.

The Relative Value Index rose 0.8% in October and is up 7.1% for the year. The Relative Value Index includes arbitrage, merger arbitrage and statistical arbitrage funds.

The Standard & Poor’s 500 stock index returned 5.66% in October and 21.21% in the year-to-date period through October. MSCI EAFE, in U.S. dollars, returned 6.24% and 26.25% in the same respective periods. The Lehman Brothers Aggregate U.S. Index fell 0.93% in October and returned 2.81% year-to-date.

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