![\"Millennium,](\"https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2026\/11\/2026-11-04-october-hero.jpg\")
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HedgeCo.Net \u2014 October turned into one of the broadest losing months for large hedge funds since the pandemic, as a technology selloff, turmoil in government bond markets and election-driven currency moves hit equity, credit and macro strategies at once, Bloomberg reported.<\/p>\n
Millennium Management’s flagship multistrategy fund fell 2.3% in the month. Marshall Wace’s Eureka strategy lost 5.4%, cutting its year-to-date gain to 5.3%. ExodusPoint Capital Management declined 2.4%, Dymon’s multistrategy fund fell 1.8% and equity manager North Rock Capital lost 2.3%. In credit, Arini’s flagship was down 12.1% through October 23.<\/p>\n
There were exceptions. Citadel’s flagship Wellington fund gained 1.7% in October, lifting its 2026 return to 15.3%. Systematic manager Quantedge rose 7.2% in the month and is up 60% for the year, helped by commodity, fixed income and market-neutral positions.<\/p>\n
The drivers were concentrated in a few weeks: renewed worries about AI-related valuations, higher sovereign yields amid political instability in France, and sharp currency moves after Brazil’s unexpected election result. JPMorgan’s positioning intelligence team described the month as exceptionally difficult, with few strategies escaping the volatility.<\/p>\n
The dispersion is the useful signal. Leveraged multistrategy platforms are built to keep any single shock small, but simultaneous reversals across crowded trades in several asset classes test that design. Allocators reviewing October will want to separate managers who lost on genuine risk-taking from those who lost because the same positions were held across the industry.<\/p>\n","protected":false},"excerpt":{"rendered":"
HedgeCo.Net \u2014 October turned into one of the broadest losing months for large hedge funds since the pandemic, as a technology selloff, turmoil in government bond markets and electi\u2026 Continue reading