Preqin: Hedge Fund Performance Improved Again in October

November 22, 2019 | Hedge Funds, Investments, News

A good month for money managers thanks to improving trade relations.

Hedge fund performance remained strong in October. As investors cheered lower interest rates and progress on trade between the U.S. and China, hedge funds returned 1.06% for the month. That figure comes from the Preqin AllStrategies Hedge Fund benchmark. This figure followed an uptick of 0.4% in September.

For the year, Preqin says that total performance sits at 8.5% YTD. Meanwhile, returns over the last 12 months clocked in 5.65%.

Hedge Fund Performance By Strategy

Preqin says that all top-level strategies were in the green last month. Equity strategies were naturally the top performer given the market’s recent rally. Those strategies clocked in at 1.46% gains for the month. Since January, equity strategies have delivered 10.34%.

Currency funds saw stronger gains thanks to improved performance from the Japanese Yen. JPY-funds topped other currency strategies with a 2.46% return. EUR-funds, by comparison, returned just 0.11%.

For the year, however, the top gains from currency-denominated funds come from BRL funds. The rally in the Brazilian real has pushed these funds up 10.25% on the year.

Finally, multi-strategy funds saw gains of 0.65% for the month. Macro strategies lagged their counterparts with gains of just 0.07% in October.

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