Photographer: Michael Nagle/Bloomberg

Hedge Fund Performance Slipped in November

Updated on
  • Firms lost about 0.1% last month in biggest drop since June
  • S&P 500 rallied more than 20% for the year through November

Hedge funds slipped in November, losing about 0.1 percent on average, even as the broader stock market rose, according to a report Thursday by Hedge Fund Research.

The drop brought returns for the year through November to about 6.1 percent on an asset-weighted basis. The industry trailed the S&P 500 Index, which jumped more than 20 percent, with dividends reinvested, in that time.

Equity-driven funds continued to be the best-performing strategy this year, reaping about 11 percent despite a 0.04 percent loss last month. Relative-value funds held up the best in November, edging up 0.04 percent as other strategies declined.

Macro funds remained the year’s worst performers, growing 3.7 percent through the end of November. The strategy has struggled amid a lack of market volatility.

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