Greenwich Says Hedge Funds Add 11% In ‘07

Jan 15 2008 | 8:30am ET

Hedge funds returned 11.15% last year, Greenwich Alternative Investments said. The Greenwich Global Hedge Fund Index added 0.61% in December.

“Hedge funds have demonstrated their resilience to downward moves in the equity markets,” Ben Rossman, senior vice president, said. “Hedge funds outperformed the S&P500 by more than 5.5% in 2007 through a combination of capturing market upside and protecting against downside. This is hedge funds’ highest level of outperformance since 2002, when the S&P500 was down more than 22% and hedge funds ended the year near flat, dropping less than 1%.”

The Standard & Poor’s 500 Index rose 5.49% last year.

Investable hedge funds did not fare nearly so well. The Greenwich Composite Investable Index added 3.61% in 2007, after a 0.27% December return.

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