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THE GIST
NEWS AND FEATURES
Global Philippines Fine Living
INSIGHTS
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
WEBINARS
2024 Mid-Year Economi Briefing, economic growth in the Philippines
2024 Mid-Year Economic Briefing: Navigating the Easing Cycle
June 21, 2024
Investing with Love
Investing with Love: A Mother’s Guide to Putting Money to Work
May 15, 2024
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
View All Webinars
DOWNLOADS
economy-ss-3
Economic Updates
Inflation Update: BSP’s low-inflation safety net
August 5, 2025 DOWNLOAD
bsp-banner
Economic Updates
Monthly Economic Update: Two more BSP cuts 
July 31, 2025 DOWNLOAD
US Fed Chairman Jerome Powell
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Policy rate views: US Fed still on wait-and-see
July 31, 2025 DOWNLOAD
View all Reports
Markets 2 MIN READ

Multi-strategy hedge funds end October with gains – sources

November 6, 2023By Reuters
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NEW YORK, Nov 6 – Many of the world’s biggest multi-strategy hedge funds crossed the finishing line of a challenging October for markets with gains, sources familiar with the matter told Reuters.

Multi-strategy hedge funds have an advantage in difficult times for markets, because they trade many different assets from equities to currencies and credit, and in multiple different strategies.

The Citadel flagship hedge fund Wellington ended October up 1%, and Point72 gained 1.2%, while Millennium rose 0.6%, Schonfeld Fundamental Equity gained 1.15%, and ExodusPoint advanced 0.69%, according to the sources.

The funds’ performances year-to-date, however, are more mixed, though still positive. Citadel’s flagship soared 13.7% in the first 10 months of the year, and Millennium and Point72 gained 8.3% each. ExodusPoint and Schonfeld rose 5.39% and 2.1%, respectively.

Portfolio managers were caught with wild swings in markets in October.

US Treasury yields, which move inversely to prices, surged in October, with benchmark 10-year yields hitting 5% for the first time since 2007. The bond sell-off, which has taken Treasuries to the cusp of an unprecedented third straight year of losses, was caused by concerns that interest rates will remain high for long due to a surprisingly strong economy, and also reflected rising investor concerns over increases in government bond supply.

In equities, all major Wall Street indexes ended October down, with the S&P 500 falling 2.2% and the Nasdaq Composite down 2.8%. Both indexes posted a third straight month of losses.

(Reporting by Carolina Mandl, in New York; additional reporting by Davide Barbuscia; editing by Jonathan Oatis)

 

This article originally appeared on reuters.com

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