Following tough years in 2015 and 2016, the hedge fund industry is on pace to see its best aggregate performance since 2013, according to the just-released October 2017 eVestment Hedge Fund Performance Report.
Eighty percent of the industry is positive in 2017, with average gains from those funds in the black nearing 12%. In October, the hedge fund industry returned an average of +1.22%, bringing year-to-date (YTD) returns to +7.18%.
Other interesting points from the October report include:
- Managed futures funds had one of their best months ever in October, returning +3.76% for the month. At +2.25%, YTD returns still lag many other strategies, however.
- Long/short equity funds, returning +1.11% in October and +9.70% YTD, have overtaken activists as the best major strategy of 2017. Relatively steady gains throughout the year have pushed the strategy to the top of the industry in 2017 among primary strategies. And no other major strategy has a higher proportion of funds in the black this year (91%).
- China-focused hedge funds are leading the industry thus far in 2017, retuning +3.64% in October and +29.26% YTD.
To download a full copy of the report, please click here.