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

Q&A: Reg A+ Will Transform the Alternative Asset Landscape

Jul 7 2015 | 4:03pm ET

In addition to easing capital formation for small companies, Regulation A+ has enormous...

Lifestyle

Fiat Chrysler Files Paperwork For Ferrari IPO

Jul 23 2015 | 5:05pm ET

Italian sportscar maker Ferrari has taken a step closer to a stock market listing...

Guest Contributor

Lifting of Foreign Ownership Limits Signals Sea Change in Vietnam's Capital Markets

Jul 28 2015 | 3:01pm ET

The lifting of restrictions on foreign ownership limits in Vietnam later this year...

 

Editor's Note