Hedge funds lost an average of 5.52% last month, according to data released by Hennessee Group LLC.
The asset decline was the fifth in as many months for the funds, Hennessee said last week.
The average hedge fund lost 15.3% in the first 10 months of this year, putting it in line to post its worst year ever, the New York company said.
According to data Hedge Fund Research Inc. of Chicago released last week, the average fund dropped 5.43% in October and has dropped 15.48% for the year.
The industry's only unprofitable year was 2002, when funds lost 1.45% and the Standard & Poor's 500 dropped 23%, Hedge Fund Research said.
