Sunday, 26 February 2017
Last updated 1 day ago
Dec 4 2012 | 1:17pm ET
This year is poised to go out with a whimper for hedge funds, which lost ground for the second-straight month in November, according to an industry replication index.
The average hedge fund lost 0.24% last month, following October's 0.64% drop, the Credit Suisse Liquid Alternative Beta Index shows. The benchmark is now up just 2.07% on the year, well behind the broader markets.
Merger arbitrage funds did best on the month, according to the LAB indices, rising 0.85% to cut their average year-to-date loss to 3.53%. The year's best-performing strategy, event-driven, added to its lead in November, rising 0.41% to enter December up 9.57% in 2012.
Managed futures funds win the title of worst-performing strategy of both the month and year, down 0.65% in November and 9.44% in 2012. Global strategies shed 0.46% last month to extend their losses for the year to 0.98%, while long/short funds lost 0.33% on the month, cutting their gains for the year to 2.61%.