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Barclay Hedge Fund Index down 0.28 per cent in November

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Hedge Funds slid 0.28 per cent in November according to the Barclay Hedge Fund Index compiled by BarclayHedge, now a division of Backstop Solutions, versus a 2.04 per cent increase in the S&P 500 Total Return Index.

Year to date, the Barclay Hedge Fund Index is down 2.42 per cent, while the S&P has gained 5.11 per cent.
“Global equity markets had mixed returns in November as European markets fell while the US and Asia rose,” says Sol Waksman, founder and president of BarclayHedge. “An 18.4 per cent drop in the price of Apple along with declines in Facebook and Netflix – stocks that are widely held by hedge funds – created additional losses for technology funds.”
Overall, 14 of Barclay’s 17 hedge fund indices had losses in November, while three had gains. Distressed Securities lost 2.04 per cent in November, Equity Market Neutral gave up 1.63 per cent, the Global Macro Index dropped 1.60 per cent, Multi-Strategy was down 1.17 per cent, and the Healthcare & Biotechnology Index lost 1.14 per cent.
On the positive side, Emerging Markets gained 1.84 per cent, the Merger Arbitrage Index was up 1.41 per cent, and the Event Driven Index gained 0.72 per cent.
“A decline in US interest rates coupled with a weakening of the US dollar was a net positive for emerging markets whose debt is dollar denominated,” says Waksman.
At the end of November, 10 hedge fund indices now have negative returns for the year, while seven still have gains.
Emerging Markets have lost 9.33 per cent, Pacific Rim Equities are down 7.44 per cent, the Global Macro Index has lost 4.48 per cent, the Multi Strategy Index has given up 3.54 per cent, and Equity Long Bias is down 3.20 per cent.
Year to date, the Healthcare & Biotechnology Index has a 9.87 per cent gain, Technology is up 6.63 per cent, Distressed Securities have gained 4.34 per cent, and Fixed Income Arbitrage is up 1.77 per cent.
The Barclay Fund of Funds Index gave up 0.65 per cent in November, and has a 3.02 per cent loss for the year.

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