HFRU Indices: October 2023 Performance Notes

10/31/2023 Performance Notes

In October, global financial markets declined as geopolitical risk spiked and uncertainty remained high regarding inflation, higher rates, and economic growth. Small-caps and technology led global equity market declines, while the UK, Hong Kong, and Korea led regional declines. US interest rates continued to rise as inflationary pressures remained salient; the US Dollar saw mixed performance and marginally changed against most currencies. Commodities were mixed with Oil and Lean Hogs leading declines, while Natural Gas and Gold led gains.
The HFRU Hedge Fund Composite Index posted a decline of -1.19% in October.

HFRU Macro Index declined -0.34%
HFRU Event Driven Index declined -1.32%
HFRU Relative Value Index declined -1.39%
HFRU Equity Hedge Index posted a decline of -1.50%

Comments reference performance as reported on October 31, 2023.