Of the nine style-driven sub-indices categories tracked, convertible arbitrage fared best, returning 25.6% for the year. Dedicated short bias strategies returned 15.8%, on average for the year, and 21.8% for the fourth quarter.
Of the nine sub-indices, only emerging markets ended in the red, losing 5.5% for the year, and 3.8% for the quarter.
The CSFB/Tremont Hedge Fund Index is comprised of 337 funds and is constructed from a database of more than 2,600 hedge funds.
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