Index Shows Hedge Funds Down 0.95% In Nov., 7% YTD

Dec 5 2011 | 12:35pm ET

Hedge funds fell by almost 1% in November, leaving them a long way from break-even on the year, according to one prominent industry index.

The Dow Jones Credit Suisse Core Hedge Fund Index lost 0.95% last month. The benchmark is now down 7.03% on the year with just a month to go.

All but one of the seven strategies tracked by the suite was in the red last month, none more so than convertible arbitrage, which lost 2.35% on the month (down 8.84% year-to-date). Both emerging markets and global macro funds lost an average of 1.43%, the latter now down 10.43% on the year and the former 2.56%.

Long/shore equity funds fell an average of 0.94% (down 5.27% YTD), fixed-income arbitrage funds 0.87% (down 0.86% YTD) and event-driven funds 0.76% (down 11.68% YTD).

Only managed futures funds were in the black last month, rising 0.52%. But they remained down 4.69% thanks to a 5.07% drop in October.

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Editor's Note