Hedge funds were relatively flat in October, with the Bloomberg Aggregate Hedge Fund Index up a mere 0.1% for the month (12.81% YTD).
Meanwhile, the Bloomberg Emerging Market Equities Strategy was the best performer in October, up 2.4% from the previous month. Managers shorting the dollar and holding long positions in emerging markets stocks posted an average gain of 18%. Managers with this strategy are up 40% YTD, while the MSCI EM (Emerging Markets) Index is besting that figure and is up 64.31%.
And the worst performers? CTA/Managed Futures programs tanked in October, finishing down -5%.
Finally, the Bloomberg Aggregate Fund of Hedge Funds index performed slightly better than the overall hedge fund universe, up 0.6% in October and 8.2% YTD.
The S&P 500 and the Dow Jones Industrial Average are up 17.06% YTD and 10.68%, respectively.
Bloomberg currently tracks 5,727 hedge funds and 4,904 funds of hedge funds.
Bloomberg Hedge Fund Indices
Strategy Indices | Oct. | YTD | 1 YR | 3 YR |
| Aggregate Hedge Fund | 0.1 | 12.8 | 12.5 | -0.4 |
| Aggregate Fund of Hedge Fund | 0.6 | 8.2 | 5.9 | 2.2 |
| Emerging Market Equity | 2.4 | 40.4 | 30.7 | -4.1 |
| Fixed Income | 1.7 | 34.7 | 33.4 | 10.7 |
| Convertible Arbitrage | 1.4 | 24.4 | 22.5 | 2.5 |
| Equity Statistical Arbitrage | 1.3 | 14.7 | 19.1 | 9.7 |
| Multi Style | 1.0 | 12.6 | 21.5 | 7.0 |
| Emerging Market Debt | 0.8 | 22.8 | 19.9 | 7.1 |
| Macro | 0.8 | 9.8 | 12.6 | 12.5 |
| Fixed Income Arbitrage | 0.7 | 6.7 | 2.1 | -3.1 |
| Long/Short Equity | 0.4 | 9.8 | 12.8 | -2.5 |
| Capital Structure/Credit Arb. | 0.4 | 30.9 | 21.4 | -1.9 |
| Distressed Securities | 0.3 | 12.4 | 5.8 | -1.5 |
| Equity Fundamental Mkt. Neutral | 0.3 | 19.4 | 17.4 | 7.1 |
| Asset Backed | 0.2 | -3.8 | -6.0 | -1.7 |
| Merger Arbitrage | 0.2 | 20.6 | 20.9 | 7.1 |
| Mortgage Backed Arbitrage | 0.1 | 34.0 | 23.3 | 11.2 |
| Short Bias Equity | -0.2 | -2.2 | 1.2 | 8.5 |
| Long Bias Equity | -2.2 | 27.1 | 22.8 | 1.0 |
| CTA/Managed Futures | -5.0 | -1.3 | 3.0 | 8.4 |
| * Source: Bloomberg on terminal go to HFND<go> |
