Hedge Funds Up 0.33% In November

Dec 6 2012 | 11:32am ET

Hedge funds added slightly to their year-to-date performance last month, a prominent industry benchmark shows.

The Dow Jones Credit Suisse Core Hedge Fund Index rose 0.33% last month. The index is up 2.37% on the year—far behind the Standard & Poor's 500 Index, which has returned in excess of 12% through November.

Most of the strategies tracked by Dow Jones Indices and Credit Suisse were up last month, however marginally. The best performer in November was emerging markets, which added 1.29% (1.67% year-to-date).

The remaining strategies posted returns ranging from a 0.44% gain to a 0.07% loss. The former mark was set by global macro funds, now up an average of 4.77% on the year. The latter represents the average November performance for convertible arbitrage funds, which remain the best-performing strategy of the year at 6.47%.

Event-driven and long/short equity funds each returned an average of 0.24% last month (4.52% and 1.52% YTD, respectively). Fixed-income arbitrage funds rose 0.04% (1.73% YTD) and managed futures funds edged up 0.01%, but remain the year's only strategy with negative performance, down 5.66% in 2012.


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Editor's Note