Hedge funds were up for the second straight month in October, even though some underlying trends have been changing direction. Distressed debt, still the most profitable strategy year-to-date was flat in October, with both performance and net asset flows close to zero, while long/short equity and multi-strategy funds had the best gains for the month with 1.58% and 1.6% respectively, according to research from Eurekahedge’s latest newsletter. The Eurekahedge Hedge Fund Index was up 1.41% for the month, bringing it up to 5.84% returns so far this year.
Total assets under management (AUM) went up $19.7 billion, with $18.6 billion of that coming from performance gains and the rest from continued net inflows...
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