The Greenwich Global Hedge Fund Index tallied a 3.01% return in October, representing the strongest month since January 2006.
Furthermore, the index has increased 12.75% year-to-date, marking the best performance for the first ten months of the year since 2003.
The index, however, fell short of the MSCI World Equity Index, which is up 12.75% year-to-date, and ahead of the Standard & Poor's 500 and FTSE 100 indexes, which are up 10.86% and 8.06%, respectively, over the first ten months of the year.
The Directional Trading Group-Futures category brought in a 5.3% return-which was the strongest return for the month.
The Opportunistic Long/Short Equity Group had the second strongest performance, posting a return of 4.6%.
The Greenwich Global Hedge Fund Index is released on a monthly basis by Greenwich Alternative Investments in Greenwich, Conn.