Hedge funds gained 1.93% in November, according to The Barclay Group.
“Rising stock markets were the ‘wind behind the sails’ for equity-based hedge fund strategies which, by assets under management, comprise the largest sector of the hedge fund universe,” says Sol Waksman, founder and president of The Barclay Group.
Stock prices rose in the US, Europe and Japan, as well as in emerging markets across Latin America, Eastern Europe and the Asia-Pacific region.
“Barclay’s Emerging Markets Index, up 18.21% YTD, put in an excellent showing in November, gaining 4.14%,” says Waksman.
The Barclay/GHS Hedge Fund Index gained 1.93% in November, and is up 8.36% for the year.
“In spite of disappointing results in October, robust returns in November may have put hedge funds back on track for double-digit returns by year-end,” says Waksman.
All but 2 of Barclay’s 18 hedge fund indexes showed gains in November. In addition to emerging markets, the technology index rose 3.78%, equity long bias gained 2.83%, and the healthcare and biotechnology index was up 2.75%. Equity short bias was the main loser, dropping 3.84%.