Long/short equity managers avoid market downswings in October |
Date: Friday, November 6, 2009
Author: Hedgeweek.com
Long/short equity fund managers avoided equity market volatility in October, finishing the month in neutral territory, according to Jordan Drachman, head of research for alternative beta strategies at Credit Suisse. After record third quarter performance, long/short equity hedge funds posted more muted returns in October. Nevertheless, the sector outperformed most global equity markets, avoiding the drawdowns experienced across many equity market indices. Global macro hedge funds appear to have posted gains last month, as models picked up on macro-economic trends despite market uncertainty. The Credit Suisse Long/Short Equity Replication Index was down -0.01 per cent (net) for the month, while the Credit Suisse Global Macro Replication Index finished up 0.63 per cent (net) in the same period
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