The average October return of Absolute Return funds in AFM's database stands at negative 4.32% with 61% of funds having reported to date. Of all funds so far reported 31% have achieved positive returns while 86% have outperformed the S&P/ASX200 Accumulation Index during October.
The non equity based strategies of Global Macro, Commodities, Currencies and Managed Futures averaged positive returns for October, while the equity based strategy of Equity Market Neutral also averaged a small positive gain. On a year-to-date basis Commodities remains the best performing strategy on average.
At an individual fund level, the best result reported to date has been Argus Capital Management Pty Limited with their Dynamic Multi-Strategy Program returning 11.77% in commodities. Fortitude Capital continues it's unequalled record of positive returns every month this year achieving 3.12% for October in it Absolute Return Trust using an equity market neutral strategy.
|
Overall Performance of Funds in AFM Database* |
Sep-08 |
Oct-08 |
YTD 08 |
Number of Funds in Index |
% of Funds Reported |
|
AFM Australian Hedge Fund Index (All Funds) |
-4.73% |
-4.32% |
-10.98% |
223 |
61% |
|
Equity Based Funds |
-5.45% |
-6.04% |
-14.28% |
120 |
77% |
|
Non Equity Based Funds |
-3.86% |
-0.57% |
-7.03% |
103 |
41% |
|
Fund of Funds |
-7.56% |
-9.57% |
-16.12% |
54 |
19% |
|
Single Funds |
-3.82% |
-3.90% |
-9.43% |
169 |
73% |
|
* Notes 1. 61% of funds in AFM database have reported October results to date. 2. YTD cumulative figures include funds not yet reporting latest results. 3. The AFM Indices are calculated using a simple average (arithmetic mean) of all Australian-based funds in the database. |
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