Barclay Hedge Fund Index gains 0.71 per cent in November
Hedge funds gained 0.71 per cent in November, according to the Barclay Hedge Fund Index compiled by BarclayHedge.
The index is up 9.84 per cent year to date.
“A rate cut in Europe, far-reaching reforms announced in China, and generally positive economic data contributed to a third month of rising equity prices," says Sol Waksman, founder and president of BarclayHedge.
Sixteen of Barclay’s 18 hedge fund indices had gains in November. The Barclay Healthcare & Biotechnology Index jumped 3.05 per cent, Distressed Securities gained 1.71 per cent, Global Macro added 1.68 per cent, Equity Long Bias was up 1.55 per cent, European Equities gained 1.37 per cent, and Pacific Rim Equities were up 1.24 per cent.
“In spite of a dismal launch that raised concerns about Obamacare’s longer term success, healthcare was the top performing sector in November as well as year to date," says Waksman.
The Healthcare & Biotechnology Index has gained 25.66 per cent in 2013, Pacific Rim Equities are up 20.63 per cent, Equity Long Bias Index has returned 19.23 per cent, Distressed Securities have gained 15.89 per cent, and Equity Long/Short is up 12.10 per cent.
On the losing side, the Equity Short Bias Index was down 2.01 per cent in November, and Emerging Markets lost 0.53 per cent.
The Equity Short Bias Index is now down 25.32 per cent in 2013, surpassing last year’s record loss of 24.12 per cent. All other hedge fund strategies tracked by BarclayHedge have gains year to date.
The Barclay Fund of Funds Index gained 1.01 per cent in November, and is up 7.22 per cent after 11 months in 2013.
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