In the week ending November 11th 2022, Barclay Hedge Fund Index compiled by BarclayHedge revealed that as equity markets enjoyed substantial gains in October, the global hedge fund industry staged its own recovery posting a +2.32% monthly return. By comparison, the S&P 500 Total Return Index gained +8.10% in October. The hedge fund industry also trimmed its year-to-date losses in October, finishing down -9.28% year-to-date through the end of the month. Hedge funds’ performance over the period bettered that of the S&P 500 Total Return Index which was off -17.70% year to date.
HFR also reported that hedge funds advanced in October, the DJIA surging to the largest monthly gain in over 40 years, while generational inflation continued, and the US Federal Reserve prepared to raise interest rates. The investable HFRI 500 Fund Weighted Composite Index advanced +2.1 percent for the month, with directional Event Driven and Equity Hedge leading strategy performance, while Macro hedge funds extended strong, uncorrelated YTD gains, according to data released today by HFR.
In performance news, multistrategy funds posted mostly muted gains in October in the face of a strong equity rally. Citadel and D.E. Shaw continue to lead the way; Viking Global Investors bucked the Tiger crowd last month, posting a gain in October and moving even closer to finishing the year in the black – the hedge fund firm’s long-short fund, Viking Global Equities, rose by 1.1 percent in October, trimming its loss for the year to just 4.6 percent, and Carl Icahn’s private hedge fund suffered a small loss in the third quarter, but it remained in the black for the year – Icahn’s investment portfolio was down 1.9 percent for the September thre………………….
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