Hedge Funds Up Just 7.4% In '13

Jan 8 2014 | 11:44am ET

Hedge funds rose just 0.1% to close out a very disappointing 2013, according to an industry index.

The Bloomberg Hedge Funds Aggregate Index returned 7.4% last year—while the Standard & Poor's 500 Index soared 30%. It is the benchmark's fifth-straight year trailing the broad-market index.

Last year's gap between the Bloomberg index and the S&P is the largest since 2005.

Long/short equity funds returned 11% in 2013, according to Bloomberg, following a 1.1% December bump. Multi-strategy funds ended the year up 6.8% after returning 0.9% last month, but macro funds lost 2.2% on the year in spite of a 0.9% jump in December.


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