Hedge funds gained 1.21 per cent in December according to the Barclay Hedge Fund Index compiled by BarclayHedge. The index was up 10.44 per cent at the end of 2017.
“Tax reform in the US helped to propel the rise in global equities in December,” says Sol Waksman (pictured), founder and president of BarclayHedge.
The Event Driven Index soared 2.51 per cent in December, Technology was up 2.30 per cent, and Distressed Securities gained 2.19 per cent. Emerging Markets gained 1.79 per cent, Healthcare and Biotechnology added 1.53 per cent, and Pacific Rim Equities were up 1.15 per cent.
Fixed Income Arbitrage lost 0.98 per cent in December, and the Convertible Arbitrage Index was down 0.12 per cent.
Overall, 2017 was a good year for hedge fund performance, with the strongest annual return since an 11.12 per cent gain in 2013 and 10.88 per cent gain in 2009. All 17 of Barclay’s hedge fund indices ended the year in positive territory.
The Technology Index led the pack in 2017 with a 25.67 per cent gain, its highest annual return in 18 years. The Healthcare & Biotechnology Index was up 19.71 per cent for the year, Emerging Markets gained 18.80 per cent, Pacific Rim Equities were up 15.44 per cent, and Equity Long Bias gained 13.92 per cent.
“With December’s positive performance, the S&P 500 set an all-time record with fourteen consecutive positive monthly closes,” says Waksman. “No surprise that equity hedge funds had a very good year.”
The Barclay Fund of Funds Index gained 0.66 per cent in December, and ended the year with a positive return of 6.20 per cent.
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