Hedge Funds Gain In November

The 1.78% gain in November bests October’s gain of only 0.10%, bringing year-to-date average gains to 2.70%.   Of the 1,035 hedge funds reporting November performance, the top quarter gained an average of 2.85%, while the bottom quarter lost an average of 0.25%.

By comparison, year-to-date the S&P 500 and Dow Jones Industrial Average have lost 17.30% and 11.20%, respectively.

PerTrac reports that of the 35 indices tracked, the biggest gainers in November were Value and Technology funds, gaining 8.35% and 8.14% respectively.   Technology funds, which had losses eight out of the last nine months, have now posted gains for two consecutive months, recording a 5.02% increase in October.

Conversely, the Short Bias and Commodity Trading Advisors (CTA) indices were hardest hit, losing 5.23% and 1.62%, respectively in November.   Short Bias, one of the strongest sectors this year, has now posted two straight months of losses; recording a 2.82% drop in October.

Other indices showing gains in November include:

• 3.17% – Convertible Arbitrage
• 2.81% – Event Driven
• 2.23% – Distressed
• 2.13% – Long/Short Hedged
• 2.05% – Emerging Markets
• 1.61% – Fixed Income
• 1.23% – Fund of Funds
• 0.87% – Fixed Income Arbitrage
• 0.85% – Macro
• 0.75% – Market Neutral

Indices recording losses this month include:

• -0.63% – Risk Arbitrage
• -0.62% – Equity