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Friday, 9 December 2016
Last updated 1 hour ago
Jan 8 2014 | 12:27pm ET
Hedge funds returned 8.99% last year, according to a widely-followed industry index.
December's Santa Claus rally failed to lift the Greenwich Global Hedge Fund Index into double-digit territory. The benchmark rose just 0.94% on the month, which saw the Standard & Poor's 500 Index rise 2.53%.
For the year, the S&P500 was up more than 30%.
Long/short equity was the best-performing strategy of 2013, adding 14.41% on the year, according to Greenwich Alternative Investments. Event-driven funds came in second at 14.04% but was the best strategy in December, up 1.34%.