Systematic long/short hedge funds, as the computer-led strategy is known, posted 4.97% in gains last month, while fundamental long/short went down 0.66%, the bank's prime services team wrote.
The systematic funds' performance was driven by asset selection, volatility and some crowned trades.
In the case of the fundamental long/short funds, the detractor was their exposure to stock indexes.
In the year through October, systematic long/short gained 15.06%, outpacing the 3.14% in profits that fundamental long/short posted.
Last month, hedge funds also placed bets that stocks in energy, financials, consumer discretionary and information technology will fall.
Persons:
Carlo Allegri, Goldman Sachs, Carolina Mandl, Marguerita Choy
Organizations:
New York Stock, REUTERS, Thomson
Locations:
Manhattan, New York City , New York, U.S, New York