Friday, 28 April 2017
Last updated 3 hours ago
Jan 4 2013 | 1:21pm ET
Hedge funds ended last year strongly, but not nearly strongly enough to avoid a disappointing 2012.
The average hedge fund rose 1.13% last month, according to Credit Suisse's hedge fund replication index. The Credit Suisse Liquid Alternative Beta Index returned just 3.22% last year, with three of its five strategy benchmarks in the red for the year; by contrast, the Standard & Poor's 500 Index returned 16%.
The event-driven LAB index was by far the best performer in 2012, rising 11.22% (1.51% in December). The only other strategy in positive territory for the year was long/short, which ended the year up 4.06% after a 1.42% jump last month.
The losers were managed futures, down 7.95% in 2012 (up 1.64% in Dec.), merger arbitrage, down 2.36% (up 1.21% in Dec.), and global strategies, down 0.08% (up 0.91% in Dec.).