The MSCI Hedge Fund Composite Index is composed of five equally weighted process group indices: the Directional Trading, Relative Value, Security Selection, Specialist Credit and Multi-Process indices.
The best-performing index so far in the year, the MSCI Direction Trading, was down -2.16% in October, but remains up 8.73% year-to-date. Conversely, the worst year-to-date performer, the MSCI Security Selection Index, was up 0.88% in October, with year-to-date return now at -2.98%.
October also saw gains made in the MSCI Relative Value Index, up 0.19% and the MSCI Specialist Credit, up 0.11%. Year-to-date the funds are up 4.66% and 0.53%, respectively.
Additionally, the Multi-Process Group Index was also up in October with a 0.62% gain, but is down year-to-date -1.77%.
Other MSCI indices had mixed results in October. The MSCI World Equity Index was up 7.28% for the month, but down year-to-date -21.09%. The MSCI World Sovereign Debt Index declined in October -0.39%, but is up year-to-date 13.75%.
Final October numbers for the Hedge Fund Composite Index declined slightly, to a gain of 0.07%, from the November 13 mid-month estimates of a 0.20% gain.