US - Hedge funds showed a healthy performance over November, outperforming most major indices.
Based on early estimates, the Average US Hedge Fund index gained 2.1% net in November, according to Nashville-based Van Hedge Fund Advisors International, a global hedge fund advisory firm.
For the year to date through to last month, the index earned an estimated 4% net. Major equity benchmarks, such as the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite, posted losses over the year's first eleven months of -7.1%, -12.7%, and -21.6% respectively, and have remained in the red despite some post-September 11 recovery.
Van’s chief executive officer, Steven Lonsdorf, said that more than 71% of hedge funds reporting so far were in positive territory in November.
“Aggressive growth, opportunistic, and value strategy hedge funds seemed to benefit most from November's stock market rally,” he added.
“Conversely, November looks to have been a difficult month for short sellers. Despite their recent losses, however, short selling hedge funds continue to show solid gains for the year to date.”
By Madhu Kalia
Here are key takeaways from our 2019 Asset Allocation Outlook on how we are positioning asset allocation portfolios in light of our outlook for the global economy and markets.
This week's top stories included a Freedom of Information request revealing more than 100,000 savers could face six-figure tax bills as a result of GMP equalisation.
The Pearson Pension Plan has entered into a £500m pensioner buy-in with Legal & General (L&G) in the insurer's first deal of 2019.