Hedge Fund Replication Index Dips 2.3% In '11

Jan 10 2012 | 12:28pm ET

IndexIQ's hedge fund replication indices did their jobs all too well last year, suffering losses in line with those of the funds they seek to track.

The IQ Hedge Composite Beta Index fell 2.32% in 2011, somewhat less than most benchmarks show the average hedge fund to have fallen. The beta index edged down 0.17% in December.

IndexIQ's strategy indices turned in widely varying performances. At the top of the heap was global macro, which rose 5.74% on the year (down 0.75% in Dec.). From those heights, it was a long was down to emerging markets, which lost 11.27% in 2011 (down 0.2% in Dec.).

In between, fixed-income arbitrage added 0.42% last year, thanks to a 2.11% surge in December. Market neutral fell 1.6% (down 0.31% in Dec.), event-driven fell 3.03% (down 1.35% in Dec.) and long/short fell 4.1% (down 0.56% in Dec.).


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