Hedge funds advanced in October, as short-term interest rates rose while the yield curve flattened, and global equity markets reversed prior month losses. The investable HFRI 500 Fund Weighted Composite Index advanced +1.7 percent in October, while the HFRI Fund Weighted Composite Index® (FWC) added +1.6 percent, according to data released today by HFR®, the established global leader in the indexation, analysis and research of the global hedge fund industry. With the October gain, total capital invested in the global hedge fund industry rose to an estimated $4.04 trillion, surpassing a historical milestone of growth and expansion.