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In October, global financial markets posted declines heading into the US election, with small declines in equities led by larger declines in bonds as interest rates increased. Equities market declines were led by weakness in healthcare & semiconductors, while France, India, and Hong Kong led regional declines. Persistent inflation heightened uncertainty regarding the pace and extent of future Federal Reserve interest rate cuts. Meanwhile, the U.S. dollar appreciated against most currencies. Commodity performance was mixed: Cocoa, gold, silver, and oil recorded notable gains, while natural gas, copper, and rubber faced the largest losses.

The HFRI-I Liquid Alternative UCITS Index posted a declined of -0.65% in October.

• HFRI-I Equity Hedge Index declined -0.24%
• HFRI-I Relative Value Index declined -0.42%
• HFRI-I Event Driven Index posted a decline of -0.98%
  
• HFRI-I Macro Index declined -1.82%%

Comments reference performance as of October 31, 2024