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Greenwich Global Hedge Fund Index off -0.52% in October (+2.9% YTD)

Monday, November 21, 2016
Opalesque Industry Update - Hedge funds were down -0.52% in October, masking a sizable performance spread among the constituent strategies. A combination of the U.S. election cycle, oil production caps, weak Chinese trade data, the specter of rising interest rates, and a scare over the future of Deutsche Bank weighed on global equity markets, as represented by the -2.01% return of the MSCI World Equity Index. Bond markets experienced their worst month since mid-2015 as fixed income traders began to bake in expected rate hikes by the world’s central banks.

Global Index Strategy Highlights

  • For the third month in a row, Distressed Securities managers posted the best strategy performance with a +3.68% return. Their index is up +13.44% year-to-date, ahead of every other strategy by at least 5%.
  • Short-biased managers (+1.51%) took advantage of some equity markets’ gradual selloffs as the U.S. Presidential race tightened and certainty over the outcome waned. Other Long-Short Equity strategies couldn’t stay positive for the month against the backdrop of the election combined with a disappointing start to earnings season.
  • The Americas were once again the leader of the Regional Indices with an impressive +5.54%, pushing the year-to-date number close to +30%.

What do you think?

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