Saturday, 22 October 2016
Last updated 5 hours ago
Dec 6 2010 | 4:22am ET
Hedge funds suffered their worst month since May's "flash crash" in November, according to the Bloomberg Aggregate Hedge Fund Index.
The average hedge fund lost 1.5% last month as stocks declined amid fears about European debt. The Bloomberg Index is up just 3.8% this year, a far cry from last year's double-digit returns.
Asset-backed securities funds really took it on the chin in November, dropping 5.2%. Still, investors can take heart in a 15% return with just one month of the year to go.
Mergers and acquisitions funds shed 2.3% last month (up 0.2% year-to-date). Long/short equity funds dropped 1.6% (up 6.1% YTD), while multi-strategy funds lost 1.5% (up 1.7% YTD). Macro funds lost an average of 1.1% (up 2.1% YTD).