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New Credit Suisse/Tremont commentary offers insight into October hedge fund performance

Thursday, November 19, 2009
Opalesque Industry Updates - Hedge funds posted a slight gain for the month as market reversals muted performance. The Credit Suisse/Tremont Hedge Fund Index (“Broad Index”) finished up 0.13% for the month, bringing year to date performance to 15.11% through October 31, 2009.

A new monthly commentary offers insight into October hedge fund performance. Some key findings from the report include:

  • Dedicated Short Bias had the strongest performance, up 4.79%, the sector’s first monthly gain since February
  • Relative Value strategies had a strong month, in part by implementing heavy equity hedges ( Convertible Arbitrage), or by arbitraging changes in central bank policies such as the Reserve Bank of Australia’s benchmark rate hike (Fixed Income Arbitrage and Global Macro)

  • A number of hedge funds are reducing risk and winding down for the year, particularly those who were net-long the equity/global equity markets and have been able to take profits, while others, who were late to add risk, have continued to seek opportunities arising from the market volatility

  • While most equity indices were down for the month, Global Macro and Event Driven managers had positive months because of these strategies’ flexibility to make gains despite market reversals

Credit Suisse Tremont Index LLC industry commentaries and publications are available on the Research section of our website, www.hedgeindex.com.

The full report is can be downloaded from Opalesque: Source.

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