Pivotal Point of View — October 2020

Published 12 November 2020 · Covers October 2020

Originally issued as October 2020.

For the year, hedge funds are outpacing the S&P 500, the former up 2.0% and the latter up 1.2%. Specifically, in October, the S&P was down 2.8% while the PivotalPath Hedge Fund Composite Index, which is asset-weighted across high-level strategies, was flat. At the fund-level, 55% of managers reported positive performance for the month.

+0.0%Composite, October

+2.5%Composite, year to date

+8.7%Composite, Q4

Equity SectorLeading strategy

Headline strategy indices

Strategy	October	Year to date
Equity Sector	+1.3%	+12.0%
Event Driven	+0.4%	+1.9%
Multi-Strategy	+0.2%	+5.4%
Credit	+0.1%	−0.5%
Equity Diversified	−0.2%	+2.3%
Global Macro	−0.7%	−0.5%
Managed Futures	−0.7%	−4.3%
Volatility Trading	−0.8%	+7.5%
Equity Quant	−1.2%	−5.6%

Net of fees, in USD. The Composite plus the nine headline indices with a published monthly series; ordered by month return.

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