Weakness in the US markets, falling UK house prices and low consumer confidence were among the factors that drove the Credit Suisse/Tremont Hedge Fund Index down -1.21 per cent in November
Weakness in the US markets, falling UK house prices and low consumer confidence were among the factors that drove the Credit Suisse/Tremont Hedge Fund Index down -1.21 per cent in November, although the Index is up 12.04 per cent YTD.
Oliver Schupp, President of the Credit Suisse Index Co., Inc., says, °ßIn November, the U.S. continued to show weakness in everything from personal spending and income to construction spending. Housing prices in the U.K. fell for the third month in a row, and consumer confidence fell to its lowest level since February. After strong signals of impending rate cuts, the Federal Reserve and the Bank of England cut rates in early December.’
‘The end of November witnessed a rally in the stock markets as stocks, particularly financials, rose. With pressure of a threatening recession in the U.S., oil prices have fallen back since peaking at USD 99.29 on November 21 says Schupp. °ßOverall, this market environment has led to eight out of ten hedge fund sectors finishing November on a negative note.°®
The Credit Suisse/Tremont Dedicated Short Bias Sector Invest Index was up 9.93% net in November and the Credit Suisse/Tremont Blue Chip Investable Hedge Fund Index was down -1.17% net in November.
