NEW YORK (HedgeWorld.com)–Most hedge funds tracked by Dow Jones in its hedge fund strategy benchmarks saw gains in November.
Of the six strategies tracked by Dow Jones, five posted gains; the lone downer was convertible arbitrage, which fell 0.83% for the month. For the year they are down 5.66%.
The big gainers in November were long/short equity managers, who collectively returned 2.56%. Things have not gone so well for managers in that strategy during the rest of the year, as they are up just 1.99% year-to-date through November, according to Dow Jones.
Event-driven hedge funds earned 1.67% last month, giving that strategy a year-to-date return of 5.34%.
Merger arbitrage gained 0.61% in November, and is up 2.16% for the year.