Hedge Funds Up in Dow Jones Indexes

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.