October was another difficult month for Australia's Absolute Return and Hedge Fund sector with widespread deleveraging across the globe and across almost every investor group and asset class.
The average October return of single managers across the sector was negative 5.04% with 86% of single managers’ funds having reported to date. This made October the worst month this year for the sector. On a year-to-date (YTD) cumulative basis the performance of the average Absolute Return fund in the database is negative 12.30%.
Positive returns were achieved by 28% of the sector while 81% of the sector outperformed the benchmark S&P/ASX200 Accumulation Index. The ASX200 fell 12.61% for the month, and according to Mercer Investment Consulting the median Long Only fund lost 11.3% in October, and 35.7% over the past 12 months.
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