Hedge Funds Edge Down 0.28% In Nov.

Dec 9 2010 | 1:41pm ET

Hedge funds lost some ground last month, dragged down by several strategies that took it on the chin in November, according to Dow Jones Indexes and Credit Suisse.

The Dow Jones Credit Suisse Hedge Fund Index lost an estimated 0.28% on the month, with 79% of the index's constituent assets reporting. Overall, the index is up 7.72% on the year.

Most of the decline can be attributed to bad months for three strategies: managed futures, which lost 4.09% (up 6.45% YTD), equity market-neutral, which lost 3.16% (down 3.19% YTD) and dedicated short bias, which lost 1.88% (down 17.22% YTD). No other strategy tracked by the indices gained or lost more than 1% in November.

Fixed-income arbitrage enjoyed the best month, for what it's worth, with a 0.64% return (11.69% YTD). Long/short equity funds added 0.58% (5.78% YTD), multi-strategy funds 0.37% (7.53% YTD), event-driven multi-strategy funds 0.23% (9.35% YTD), convertible arbitrage funds 0.16% (9.83% YTD), event-driven funds 0.15% (8.38% YTD) and distressed funds a microscopic 0.06% (7.06% YTD).

Rounding out the losers were global macro funds, down 0.84% (up 10.15% YTD), risk arbitrage funds, down 0.65% (up 2.81% YTD), and emerging markets funds, down 0.58% (up 9.47% YTD).


In Depth

Q&A: Old Hill's Stone On Private Debt, P2P And Credit Bubbles

Jun 6 2017 | 7:52pm ET

While institutional capital continues to flow into the broader private debt sector...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

AIMA: How The U.K.'s SMCR Will Affect U.S. Firms

Jun 20 2017 | 6:29pm ET

U.S. investment managers need to think seriously about how tough new U.K. conduct...

 

From the current issue of