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Hedge Fund Index Rises In October, Led By Distressed Strategies - Data
Hedge funds gained by 0.32 per cent in October, according to figures compiled by BarclayHedge. The index of performance is up 6.09 per cent over the year to date.
Overall, 13 of BarclayHedge’s 18 hedge fund indices rose in October. The strongest performer was the Distressed Securities Index, which gained 2.40 per cent.
“Distressed securities funds are benefitting from artificially low interest rates on government bonds that are driving yield-hungry investors into high-yield credits,” said Sol Waksman, founder and president of BarclayHedge.
Other gains came from Equity Short Bias (1.08 per cent), European Equities (1.00 per cent), the Event Driven Index (0.78 per cent) and the Multi Strategy Index (0.57 per cent).
Over the year to date, Healthcare and Biotechnology rose by 13.60 per cent and Distressed Securities gained by 10.03 per cent. The Equity Short Bias Index has lost 17.15 per cent in 2012. All other strategies tracked by BarclayHedge have had positive year-to-date returns.
The Barclay Fund of Funds Index dropped by 0.19 per cent in October, but is up by 2.98 per cent in 2012.
