Hedge funds in the Eurekahedge Hedge Fund Index dipped 0.51% in October, bucking the trend of gains in recent months, amidst a dim global economic outlook and a difficult trading environment.
The index remains in positive territory for 2012, however, gaining 3.81% year to date.
Hedge funds with a global mandate fared the worst among regional funds, falling 1.82%, with the losses driven mostly be commodities. Conversely, Asia ex-Japan managers managed to gain 1.75% in October, outperforming regional indexes and hedge funds focusing on other regions.
As for strategy, distressed debt managers fared the best, gaining 1.87% in October and 10.53% year to date. CTA/managed futures landed on the opposite end of the spectrum, losing 2.94% in October.
(CG)