Equity Hedge Funds Strongest As Industry Posts Nov. Gains

Dec 17 2013 | 12:08pm ET

Hedge funds again failed to match the return of the broader markets in November, rising 1.31% on the month, according to Credit Suisse.

The Credit Suisse Hedge Fund Index rise last month compares unfavorably with the Standard & Poor's 500 Index, which rose 2.8% in November and which is up 26% on the year. By contrast, the Credit Suisse index is up 8.43% in 2013, with just one month to go.

Equity market neutral funds did best in November, with a 2.59% average return (7.87% year-to-date). One of the year's hardest-hit strategies, managed futures, followed at 2.09% (down 2.66% YTD).

Long/short equity funds added 1.85% (15.65% YTD), event-driven multi-strategy funds 1.74% (13.62% YTD), event-driven funds 1.68% (13.64% YTD), distressed funds 1.55% (13.79% YTD), emerging markets funds 1.08% (7.44% YTD), global macro funds 1.03% (3.59% YTD), multi-strategy funds 0.86% (9.44% YTD), fixed-income arbitrage funds 0.5% (3.61% YTD) and risk arbitrage funds 0.1% (4.48% YTD).

Dedicated short-bias funds continued to rack up the losses in November, falling 1.49% (down 24.36% YTD). Convertible arbitrage funds also lost ground, dropped 0.2% (up 5.47% YTD).


In Depth

bfinance: Fees Falling Across Asset Classes, Yet Overall Investor Costs Still Climbing

May 16 2017 | 9:53pm ET

Despite unprecedented attention on fees, new research from investment consultancy...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Risk-Based Compliance: Why Oversight Of Outsourcing Is Critical

May 10 2017 | 7:02pm ET

Compliance is notoriously one of the trickiest middle office functions for funds...

 

From the current issue of