HFRI Fund Weighted Composite Index gained 1.75% in November, bring YTD gains to 18.8% and keeping the industry on pace for the best calendar year performance in a decade. The HFRI Fund Weighted Composite Index gained +19.55 in 2003 and 31.3% in 1998. Inclusive of YTD gains, the industry is 5.7% from the all time performance peak (high water mark) set in October 2007.
o Across main strategy areas:
§ Macro funds posted the strongest gains, adding +2.54%, with the strongest contribution from Systematic Macro +3.63 strategies; Funds focusing focused specifically on Commodity: Metals gained more than +11.5%.
§ Relative Value Strategies were the weakest area performance, despite posting a gain of +0.73%; these have over recovered +23.5% YTD on strong credit market recovery, although these gains were not as salient in Nov
§ Equity Hedge Strategies posted a gain of +1.63%, with the strongest contribution from Technology/Healthcare focused funds, which gained +3.31%
§ Event Driven Strategies posted a gain of +1.17, with Distressed funds gaining +2.11%
§ Emerging Markets posted a gain of +1.60% overall, however EM funds focusing on the Middle East posted a sharp decline of over -5%, on month end concerns related to Dubai World situation
Media Reference Guide: The full data pack of slides from Hedge Fund Research tracking global industry performance for November 2009 and the year to date will be issued tomorrow morning, Tuesday 8 December.
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