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Bailey McCann, Opalesque New York:

Hedge fund performance dipped by a marginal -0.4% in October 2024, according to new data from Citco. This follows a strong run of positive returns that stretched back to May.

Hedge Funds administered by Citco have achieved an overall weighted average return of 10.6% in 2024 to date.

Global Macro strategies were the top performers in October, with a weighted average return of 1%, followed by Fixed Income Arbitrage funds at 0.7%, and Equity strategies at 0.4%. Equity funds have now enjoyed a 6-month winning streak, the last negative month coming in April of this year.

Commodities strategies delivered the lowest performance for the month, with a weighted average return of -2.5%, while Multi-Strategy and Event Driven funds were also in negative territory, at -1.3% and -0.6% respectively.

Asset flows into funds were broadly positive. Hybrid funds had net inflows of $1.1B, while Arbitrage and Funds of Funds both had smaller net inflows of $0.2B, and Event Driven funds came in at $0.1B. Multi-Strategy funds saw the most activity in October, with $5.6B of subscriptions, but this was countered by the same amount of redemptions, to leave them flat for the month. Nonetheless, YTD they have been one of the more popular strategies, with net inflows of $4.8B. Emerging Market strategies were also flat in October.

On an Assets under Administration (AUA) basis, funds with between $1B-$5B of AUA saw further net inflows of $2.3B in Octo......................

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