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Tough year for active fund managers
For investors in US equities, October was a painful month. But at least we did not suffer alone - it was a brutal month for almost every asset class. Amid fear and panic selling, only gold posted a meaningfully positive return.
The campaign fury in the build-up to the US mid-term elections may have been a factor in 'Red October', which saw the S&P 500 take a 10% intra-month hit.