The healthcare sector went on a tear beginning in 2011, thanks in large part to the passage of the Affordable Care Act and its impending implementat
Thursday, 19 January 2017
Last updated 12 hours ago
Jan 12 2010 | 1:30am ET
Hedge funds returned 13.4% in 2009, according to Hedge Fund Research’s HFRX Indices.
The HFRX Global Hedge Fund Index added 0.55% in December to close out the year. December’s returns were driven by distressed securities funds, which returned 3.49% on average during the month. But that wasn't enough to save the strategy from a year in the red, as distressed funds ended 2009 down 5.6%.
By contrast, last year’s standout strategies were all arbitrage: convertible at 42.46% (2.36% in December), multi-strategy relative value at 42.05% (3.46%) and relative value at 38.47% (2.82%).
Other strategies beating the overall industry average for the year were market direction at 29.34% (1.67% in December), special situations at 19.57% (1.45%), fundamental growth at 17.54% (2.66%) and event-driven at 16.59% (1.03%).
In addition to distressed securities, 2009’s losers included systematic diversified funds (down 9.04% on the year, down 3.74% in December), macro funds (down 8.78% YTD, down 2.62%), equity-market neutral funds (down 5.56% YTD, down 0.67%), absolute return funds (down 3.58% YTD, up 0.16%) and multi-regional funds (down 1% YTD, down 1.15%).