HFRU INDICES: OCTOBER 2026 PERFORMANCE NOTES

In October, global financial markets posted mixed performance amid elevated volatility as investors reassessed the sustainability and profitability of continued AI-related investment, while geopolitical uncertainty and higher Oil prices remained in focus. Global equity markets declined, with weakness concentrated in Technology and AI-sensitive equities, including Semiconductors, while defensive sectors and portions of the broader U.S. market posted gains. Interest rates declined as increased risk aversion supported demand for government bonds, despite persistent inflation pressures and the U.S. Federal Reserve maintaining interest rates at elevated levels. The U.S. dollar was mixed against most major currencies. Commodities were also mixed, with Oil posting strong gains amid continued geopolitical uncertainty and concerns surrounding global energy supplies, while Gold and Silver declined.

The HFRU Hedge Fund Composite Index declined -0.73% in October.

• HFRU Relative Value Index declined -0.04%
• HFRU Event Driven Index declined -0.50%
• HFRU Equity Hedge Index declined -0.78%
• HFRU Macro Index declined -1.51%

Comments reference performance as reported on October 30, 2026