Wednesday, 1 March 2017
Last updated 18 hours ago
Dec 15 2009 | 5:15am ET
Hedge funds are nearing a 20% return for the year, creating a happy symmetry with last year, when they lost about as much.
The average fund rose 1.02% last month to hit 18.48%, according to the RBC Hedge 250 Index. Managed futures funds led the way with a 3.5% return, but that makes it the second-worst performing hedge fund strategy on the year at 5.92%. Only equity-market neutral has done worse with a 0.31% return after dropping 1.21% in November.
The only other strategy in the red last month—convertible arbitrage—is the top-performing strategy on the year, ending last month up 64.25% after declining 0.96% in November.
Mergers and special situations funds rose 1.54% (28.26% year-to-date), credit funds 1.39% (21.72%) and fixed-income arbitrage 1.29% (22.11% YTD).