The top 25% of hedge funds gained an average 1.63%, while the bottom 25% turned in an average gain of 0.15% for the month. Long/Short Equity sector funds, the month’s top performing strategy, were up an average 4.72% for November. By comparison, the S&P 500 gained 0.71% during the month.
Value funds were up 2.75% and Distressed funds were ahead by 1.86% in November, according to the data.
Based on the hedge funds that have reported November performance, the year-to-date average gain for hedge funds is 18.10%. However, the top 25% of hedge funds have gained 23.15% since January 1, while the bottom 25% are up 5.7% over the same time period. The S&P 500 has gained 20.28% since January 1, 2003.
Hedge funds included in these calculations pulled off a 2.05% average October advance. The top 25% of hedge funds pushed ahead 2.98% in October while the bottom 25% gained an average of 0.52% during the same period.
HedgeFund.net-PerTrac Universes are a feature of PerTrac Online, a hedge fund analytics tool available exclusively to registered users of HedgeFund.net. HedgeFund.net-PerTrac Universes chart the roughly 2,900 hedge funds that report their performances to the Web site.