Dow Jones: Hedge Funds Up Over 1% In Dec.

Hedge funds enjoyed a bump—albeit not a big one—in December, according to the Dow Jones Hedge Fund Strategy Benchmarks.

Equity long/short hedge funds rose an estimated 1.88% last month. The strategy ended the year up just 4.88%. Event-driven funds, the best of the three Dow Jones indices still being published on the year at 15.54%, added 1.14% in December. Merger arbitrage funds returned 1.02%, and 8.31% on the year.

Dow Jones’ convertible arbitrage, distressed securities and equity-market neutral benchmarks remain suspended.

Meanwhile, equity long/short funds have continued their rally in the early going on the New Year. The strategy is up an estimated 1.22% through Jan. 5. Event-driven funds are up 0.35% after the first two trading days of the year, while merger arbitrage funds dropped 0.17%.