Credit Suisse: Hedge Funds Down 0.71% In November

Dec 8 2008 | 4:21pm 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

Q&A: Rotation Capital's Rothfleisch On SPAC 2.0

Aug 11 2017 | 7:43pm ET

Corporate actions have long been a staple of event-driven investors, but activity...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Star Mountain: Private Lending in the Lower Middle-Market

Aug 14 2017 | 4:45pm ET

Private credit has become one of the most popular alternative asset classes in recent...

 

From the current issue of