After seven months of positive performance, hedge funds witness their first down month since February during October according to Eurekahedge.
Eurekahedge’s data shows hedge funds declined 0.35% during the month of October. On a year-to-date basis, hedge funds were up 2.98% with roughly 20% of managers posting double-digit returns compared with 15% over the same period last year.
Hedge Funds Suffer Their First Loss In Seven Months
The good news for managers is that while hedge funds lost money overall during October, on average funds outperformed the underlying markets, with the MSCI AC World Index (Local) down 1.38% in October.
