The CSFB/Tremont Hedge Fund Index was up 1.38% in October, it emerged this week. This brings the index's year-to-date returns to 12.02%.
Speaking with regard to last month's gains, Oliver Schupp, President of Credit Suisse First Boston Tremont Index LLC announced that: "With a strong stock market at their backs, equity oriented strategies posted generally solid gains in October bringing the Index up to 12.02%."
Robert I. Schulman, Co-Chief Executive Officer of Tremont Capital Management, Inc, explained that:
"Long/short equity funds rode the positive equity wave during October and posted returns of 2.46%. Emerging markets funds are still on top year-to-date, now up 22.89%, and enjoying a strong positive trend."
However, dedicated short bias funds performed badly last month, dropping by
7.56%.
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