Hedge funds shed 0.25% in October as volatile markets inflicted a rare monthly loss on the industry.
The RBC Hedge 250 Index is up 17.2% this year, according to estimated returns. The index was led last month by fixed-income arbitrage funds, which rose 2.75%, and convertible arbitrage funds, which added 2.16%.
Other strong performances were turned in by credit funds (1.54%), multi-strategy funds (0.62%) and macro funds (0.25%).
Equity long/short funds were hardest hit by the poor performance of the broader markets, shedding 1.6% on the month. Managed futures didn’t fare much better, losing 1.35% in October. Equity market neutral funds dipped 0.41% and mergers and special situations funds dropped 0.15%.
