WEST PALM BEACH, FL (HEDGECO.NET) – Standard & Poor’s has published its hedge fund performance data for October. According to the released data, the index gained 0.72% for the month led by strongperformance from both directional and event-driven managers.
The S&P Directional/Tactical Index made up of Equity Long/Short, Managed Futures and Macro managers ended October up 1.45%. Managed Futures was the top performing strategy in October, many of the managers using such strategy returned to positive territory following an extended drawdown period of the recent months.
According to Standard & Poor�s, �Returns were helped by several strong trends including those of rising crude and natural gas prices, the weakening of the US Dollar against the Swiss Franc, Japanese Yen and Euro, and declining government bond yields. The representative S&P Managed Futures Index, composed of 14 managers, returned 5.56%. Hedged equity strategies, as reflected by the S&P Equity Long/Short Index, finished the month up 0.50%�.
In his remark, Charles Davidson, Senior Hedge Fund Specialist at Standard & Poor’s said, “A broad-based U.S. market, led by mid-cap growth stocks, helped produce strong performance among U.S. managers.” He added, �In Europe, many managers were hurt by their net long exposure to natural resources, particularly in the mining sector.”
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: Editor@hedgeco.net
HedgeCo.Net is the most popular hedge fund database and community in the world. Membership on www.hedgeco.net is FREE and EASY. We also offer FREE LISTINGS for Hedge Funds!
Be sure to check out our sister sites. www.hedgefundlounge.com, www.hedgefundtools.com, and www.hedgefundemployment.com.
