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Alternative Market Briefing

Hedge funds rebound in October on strong global financial market gains

Wednesday, November 04, 2015

Komfie Manalo, Opalesque Asia:

Hedge funds rebounded in October, following strong gains by the global financial markets as the U.S. Federal Reserve maintained its current interest rate policy, with equities reversing sharp 3Q losses across widely held positions with broad based gains across most sectors and regions.

Data provider Hedge Fund Research (HFR) said in its monthly performance report, that the HFRX Global Hedge Fund Index had gained +1.46% last month (-1.63% YTD), and HFRX Market Directional Index also posted positive gains of +3.36% (-2.88% YTD).

HFRX Event Driven Index posted a gain of +2.23% (-4.29% YTD), as equities experienced broad gains while high yield credit tightened.

HFRX Equity Hedge Index gained +1.90% (-1.28%) as global equity markets posted strong gains for the month.

HFRX Relative Value Arbitrage Index posted a gain of +1.91% (+1.08% YTD), as high yield credit and arbitrage deal spreads tightened.

HFRX Macro/CTA Index posted a decline of -0.94% (-2.29% YTD), from declines in quantitative, trend-following, systematic CTAs only partially offset by Emerging Markets and Fixed Income strategies. HFRX Emerging Markets Composite Index lost -0.32% (-5.8% YTD).

The report commented, "U.S. gains were led by technology, biotechnology, semico......................

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