Credit Suisse: Hedge Funds Down 0.71% In November

Dec 8 2008 | 3:21pm ET

In one of the more optimistic estimates for hedge funds in November, the Credit Suisse/Tremont Hedge Fund Index is expected to fall by about 0.71% when all of the numbers come in. With 69% of the index’s constituents reporting, the fund is estimated to be down 16.14% on the year.

Distressed funds lived up to their name in November, falling 5.24% (down 18.61% year-to-date), the worst of any strategy tracked by the Credit Suisse Index Co. Other putrid performers included fixed-income arbitrage (down 3.72% in November, down 26.81% YTD), multi-strategy (down 2.56%, down 20.77% YTD) and event-driven (down 2.31%, down 15.91% YTD).

In the race for worst-performing strategy of the year, it’s neck-and-neck with a month to go. Convertible arbitrage currently “leads” emerging markets—last year’s best strategy—at minus-30.76% to minus-29.9%.

Just four of the Credit Suisse/Tremont subindices were in positive ground last month, led by managed futures, which is also one of just three subindices in the black year-to-date at 15.59%. The other positive performers in November were dedicated short bias, the top strategy in 2008 at 16.77%, with a 2.98% return, global macro at 2.09% (down 5.15% YTD) and equity-market neutral at 0.85% (up 0.66% YTD).


In Depth

Kettera Q&A: The Advantages of Alternative Investment Platforms

Oct 28 2016 | 5:52pm ET

The past several years have seen a distinct push towards easier and cheaper access...

Lifestyle

Midtown's Plaza District Fades As Manhattan Office Landscape Shifts

Nov 22 2016 | 6:32pm ET

Lower leasing costs, more efficient office space and the hope of projecting an image...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR