Opalesque Industry Update - The Eurekahedge Hedge Fund Index gained 1.88% in October as optimism returned to the global economy and markets posted strong rallies. The MSCI World Index gained 8.65% amid moves to resolve the European debt crisis, as well as better than expected economic data from the US.
Global markets are down 7.60% (October YTD), while the Eurekahedge Hedge Fund Index is down 3.05%. The asset weighted Mizuho-Eurekahedge Top 100 Index continues its strong run for the year and is now up an impressive 1.17% in 2011.
Key highlights for October:
The Eurekahedge Hedge Fund Index witnessed its largest gain of 2011, rising 1.88% during October
The Mizuho-Eurekahedge Top 100 Index remained in positive territory for the year with a 1.17% return (October YTD)
Long/short equity funds posted their largest gain since May 2009, gaining 4.1%
Early reports indicate net positive asset flows to hedge funds in October 2011
Japanese hedge funds have attracted the largest asset flows (in percentage terms), increasing 7.5% for the year, allowing Asian hedge fund assets to remain at US$130 billion
Launch activity remained strong through 3Q 2011 with more than 150 new hedge funds launched during this time