The Index shows a flat return for domestic hedge funds for the year-to-date through November while the preliminary December return suggests that hedge funds posted a 0.3% net loss for the full year, according to VAN.
VAN pointed out that the US equity market fared far worse than hedge funds. The S&P 500 lost 5.9% in December and 22.1% for the year while the NASDAQ dropped 9.6% and 31.3%.
The early picture is based on initial reports from more than 150 hedge funds, according to the company. Final results for the Van Hedge Fund Indices for December, fourth quarter and full-year 2002 are scheduled for release later this month, VAN said.