Research into alternative investment strategies by French business school Edhec has shown that hedge fund performance continued its return to positive territory in October, after losing ground earlier in the year.
The Edhec survey revealed that only three of 13 alternative investment strategies posted a negative return in October, following on from September when there were only two losing strategies overall.
The most successful strategies in October were CTA Global, or those employing commodities futures, options and foreign exchange, which returned 3.81% on the back of surging oil prices and a collapsing US dollar. This is in marked contrast to losses suffered earlier in the year.
Global Macro also produced a positive return, up 1.37% on average in October after also receiving criticism for poor returns earlier in the year.
Emerging markets, which are up on average 8.36% for the year to date, produced returns of 1.73% on average in October.
Included in the losing strategies during October were convertible arbitrage, down 0.45% on average, and short selling which was a victim of rallying equity markets and lost on average 0.89%.
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