Hedge funds gained 1.84 percent in October according to flash estimates for the Barclay Hedge Fund Index.
“October was a positive month for the overwhelming majority of hedge funds,” says Sol Waksman, founder and president of The Barclay Group. “Any month we see that 90 percent of the funds reporting to Barclay are profitable, we know everything has gone right.”
Overall, 17 of Barclay’s 18 hedge fund indexes gained value in October. Only the Equity Short Bias Index was in negative territory, dropping 4.31 percent.
On the positive side, Equity Long Bias jumped 3.12 percent, Emerging Markets gained 2.64 percent, the Healthcare and Biotechnology Index was up 2.21 percent, and Technology gained 2.19 percent.
This was the fourth straight month of gains for hedge funds. The Barclay Hedge Fund Index is now up 8.74 percent for the year.