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Alternative Market Briefing

Hedge funds gain in November with CTAs leading the way

Wednesday, December 03, 2014

Komfie Manalo, Opalesque Asia:

Hedge funds posted gains for November with the HFRX Global Hedge Fund Index gaining +0.33% and the HFRX Market Directional gaining +1.26% for the month, according to data provider Hedge Fund Research.

HFRX Macro/CTA Index posted a gain of +1.66% for November, its largest monthly gain in 5 years, with gains concentrated in systematic trend-following managers. The HFRX Macro: Systematic Diversified/CTA Index gained +2.81% for the month, its best performance in 28 months, as oil posted steep losses, natural gas gained and the U.S. dollar extended gains against the Japanese yen, British pound sterling and Russian ruble. Discretionary currency and fixed income strategies also contributed to macro gains.

The HFRX Equity Hedge Index posted a gain of +0.87% for November, led by contributions from Fundamental Value strategies. The HFRX Fundamental Value Index gained +1.51% with gains in the Communications, Cyclical and Technology sectors. The HFRX Market Neutral Index posted a narrow decline of -0.06%, with mixed performance from quantitative, trading oriented strategies and fundamental, factor-based models. The HFRX Fundamental Growth Index posted a decline of -0.37% with contribution from exposure to emerging markets.

The HFRX Event Driven Index was ......................

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