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Komfie Manalo, Opalesque Asia:

Hedge funds have continued their upward trajectory as the HFRX Global Hedge Fund Index was up +0.43% through October 16 (+4.88% YTD) as global financial markets remain strong and global interest rates largely tread water, according to Hedge Fund Research.

The HFR added that the HFRX Equal Weighted Strategies Index was up +0.14% (+3.95% YTD), and its HFRX Market Directional Index was up +0.28% (+3.21% YTD). The HFRX Absolute Return Index slipped slightly, down -0.04% (+2.63% YTD).

"Equity markets in particular have been trending higher, with the Dow hitting a new record and sector leadership from cyclicals and semiconductors," HFR added.

The report said that the HFRX Macro/CTA Index posted a gain of +0.93% during the same period as gains in systematic trend-following managers were only partially offset by declines in discretionary global fixed income and emerging markets strategies. The HFRX Macro Systematic Index posted a gain of +2.32% as the US dollar gained against the British pound sterling and Mexican peso, metals, hogs, lumber and sugar rose while rubber and coffee declined.

The HFRX Equity Hedge Index posted a gain of +0.75% for the period as global markets gained through mid-month. The HFRX Fundamental Growth Index gained +2.36% for the month from exposure to Emerging Asia, tech......................

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