Little Escape for Hedge Fund Managers
No sector was spared in October.
The Morningstar 1000 Hedge Fund Index returned its worst monthly performance in history for the second straight month in October. The month's 9.4% loss topped September's 7.9% decline. Hedge funds of funds, as measured by the Morningstar Hedge Fund of Fund Index, fell 9.1%.
No sector was spared in October. Equity, bond, and commodity markets each struggled. There was little escape for hedge fund managers aside from holding cash.