Thursday, 25 August 2016
Last updated 5 min ago
Jan 8 2014 | 10:44am 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.