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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 HFRI-I Liquid Alternative UCITS Index posted a decline of -1.14% in October.

HFRI-I Macro Index declined -0.48%
HFRI-I Relative Value Index declined -0.62%
HFRI-I Event Driven Index declined -1.24%
HFRI-I Equity Hedge Index declined -1.63%

Comments reference performance as of October 31, 2023