Parus Fund Slightly Positive in October While King Street Negative

The Parus Fund was positive in October while King Street posted slightly negative performance, according to investor letters reviewed by ValueWalk.

The Ireland-based Parus hedge fund was up 0.34 percent in October, bringing year to date performance to 0.56 percent, significantly underperforming the U.S. stock market. The long short fund primarily invests in U.S. and European equities targeting on the long side growth stocks with a competitive advantage and on the short side structurally declining companies. The Fund employs a stock-picking methodology supported by fundamental analysis and the use of primary data, according to its investor letter.

“October was a month of two halves for equity markets, starting with...