Hedge Funds Rise 0.42% In November

Dec 18 2012 | 10:45am ET

Hedge funds added 0.42%, bringing year-to-date gains to 4.39%, and attracted an additional $5.9 billion in November, according to the latest data from Eurekahedge.

Hedge funds worldwide now manage $1.77 trillion and North America remains the fastest-growing hedge fund region, with total assets up $56 billion since the start of the year at $1.22 trillion.

Distressed debt funds are up 10.51% YTD in November with European distressed debt funds returning over 20%. Relative value funds posted a sixth consecutive month of gains, adding 0.47% in November putting their YTD gains at 9.19%.

Most strategies finished November in the black, led by even-driven hedge funds, up 1.27%. (Within this category, European event-driven funds posted their strongest monthly gains in two and a half years, rising 3.99%, in November.) Distressed debt managers were up 0.42% on average, macro managers posted the only losses, falling 0.19%.

In regional terms, Japanese hedge funds reported the strongest November returns, up 1.16%, while North American funds posted the only loss, down 0.08%. YTD, emerging markets funds have turned in the best performances—Latin American funds are up 8.34% as of end-November.

The asset weighted Mizuho-Eurekahedge Index was up 0.33% in November. The largest gains were posted by equity investing funds focused on emerging markets and the top five performers of the index contained two long-biased Indian equity hedge funds.

In regional terms, the Mizuho-Eurekahedge Asia ex-Japan Index posted the best performance in November, gaining 2.12%.

There have been 750 hedge fund launches in 2012 (as of the end of October).

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