The Greenwich-Van Global Hedge Fund Index returned +1.74 percent in October, according to hedge fund index provider Greenwich-Van Advisors, LLC. Three of the firm’s four major strategy groups have year-to-date returns of roughly +9 percent or higher.
The DJIA advanced to record highs in October; however, the managers continue to remain divided in their outlook for November, as 41 percent are bullish, 41 percent bearish and 18 percent neutral. Despite a strong rally in the U.S. Dollar early in October, these gains quickly faded during the last half of the month to end October slightly lower. Looking forward to November the group anticipates that this recent Dollar weakness will continue, as 59 percent are bearish vs. 29 percent bullish and 12 percent neutral. Finally, 52 percent of the managers expect US Treasury 10-year prices to move lower vs. 24 percent higher and 24 percent unchanged.
The Greenwich-Van Hedge Fund Research Update is published monthly on or around the 10th business day as a service to institutions, plan sponsors, consultants, individual investors, fund managers and the financial services industry. Our flagship indices, the Greenwich-Van Global Hedge Fund Indices, have been published since 1995 and are among the industry’s oldest and most widely utilized composite benchmarks of the entire hedge fund universe.
The Greenwich-Van Investable Hedge Fund Indices are an additional series of hedge fund benchmarks designed to represent expected performance of ‘investable’ hedge funds that are open and considered suitable for institutional investment. Both indices are updated monthly and calculated as simple averages (not dollar weighted averages) based on underlying hedge fund returns that are net of manager fees and do not include fund-of-funds.