Tuesday, 6 October 2015
Last updated 52 min ago
Dec 5 2013 | 1:24pm ET
Hedge funds had another tepid month in November, rising 0.55% as a disappointing year draws to a close.
The HFRX Global Hedge Fund Index once again failed to meet or exceed the returns of the Standard & Poor's 500 Index, which rose a further 2.8% last month and is now up 26.2% on the year. By contrast, the Hedge Fund Research benchmark is up just 6.13%.
All but two of the 16 strategies tracked by the HFRX suite were in the black in November, led by systematic diversified commodity trading advisors, which returned 1.6% on the month (down 1.84% year-to-date). Fundamental value funds rose an average of 1.24% (14.46% YTD) and master-limited partnership funds 1.06% (22.04% YTD).
Equity hedge funds added 0.96% last month (9.77% YTD), special situations funds 0.83% (17.73% YTD), equity-market neutral funds 0.64% (1.55% YTD), event-driven funds 0.6% (13.55% YTD), fundamental growth funds 0.52% (2.93% YTD), macro funds and CTAs 0.32% (down 1.75% YTD), relative-value arbitrage funds 0.27% (2.35% YTD), multi-strategy funds 0.22% (0.67% YTD), merger arbitrage funds 0.2% (3.57% YTD) and credit funds 0.03% (6.39% YTD). Distressed restructuring funds were flat in November and are up 5.4% on the year.
Only emerging markets funds and convertible arbitrage funds suffered losses on average last month, with the former dropping 1% (up 0.13% YTD) and the latter 0.73% (up 9.2% YTD).
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…