During the week ending November 11, 2022, Barclay Hedge Fund Index compiled by BarclayHedge revealed that while equity markets posted substantial gains in October, the global hedge fund industry staged its own recovery posting a monthly return of +2.32%. By comparison, the S&P 500 Total Return Index gained +8.10% in October. The hedge fund industry also pared its year-to-date losses in October, ending down -9.28% year-to-date to month-end. Hedge fund performance over the period outpaced that of the S&P 500 Total Return Index, which was down -17.70% year-to-date.
HFR also reported that advanced hedge funds in October, the DJIA hit its biggest monthly gain in more than 40 years as generational inflation continued and the US Federal Reserve prepared to raise interest rates. The weighted composite HFRI 500 investable fund index rose +2.1% over the month, with directional Event Driven and Equity Hedge strategy performances leading, while macro hedge funds made solid, uncorrelated gains year-to-date, according to data released today by HFR.
In performance news, multi-strategy funds posted generally muted gains in October amid a strong rally in equities. Citadel and DE Shaw continue to lead the way; Viking Global Investors withstood the Tiger crowd last month, posting a gain in October and edging even closer to the end of the year in black – the long-short fund of hedge fund firm, Viking Global Equities , rose 1.1% in October, cutting its loss for the year to just 4.6%, and Carl Icahn’s private hedge fund suffered a small loss in the third quarter, but remained in the black for the year – Icahn’s investment portfolio was down 1.9% for September 3 …… …………….
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