All six of IndexIQ’s hedge fund indices recorded a negative performance in October, reflecting a generally down month for the markets. 

The IQ Hedge Global Macro Index was the top performer, dropping 0.57 per cent.
 
The IQ Hedge Long/Short Index fell 1.97 per cent, while the IQ Merger Arbitrage Index declined 1.01 per cent, in spite of continued strong M&A activity. 
 
"Election induced volatility and the expectation of a December increase in the Federal Funds rate weighed on the market in October, resulting in a decline for most of the major indexes," says Salvatore Bruno (pictured), IndexIQ's chief investment officer. "There weren't a lot of places to hide during the month."