Hedge Fund Beta Index Up Just 7.35% In 2013

Jan 3 2014 | 3:08pm ET

Hedge funds closed out an extremely disappointing year this week, according to an industry replication index.

The Credit Suisse Liquid Alternative Beta Index returned just 7.35% in 2013, rising 0.48% last month. The Standard & Poor's 500 Index, by contrast, soared nearly 30%.

Even the strongest hedge fund strategy tracked by Credit Suisse couldn't come close to matching that; the Event Driven Liquid Index ended 2013 up just 10.88% after a 0.83% December return. It was the only LAB strategy to finish the year up by double digits.

Long/short funds rose an average of 7.88% (0.24% in December), managed futures funds 7.49% (1.01% in Dec.), merger arbitrage funds 6.95% (0.12% in Dec.) and global strategies 5.91% (0.41% in Dec.).

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Editor's Note