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Hedge funds advance 0.2% in November - Hennessee Group

Tuesday, December 07, 2010
Opalesque Industry Update - Hennessee Group LLC, an adviser to hedge fund investors, announced today that the Hennessee Hedge Fund Index advanced +0.2% in November (+7.0% YTD), while the S&P 500 declined -0.2% (+5.9% YTD), the Dow Jones Industrial Average declined -1.0% (+5.5% YTD), and the NASDAQ Composite Index decreased -0.4% (+10.1% YTD). Bonds also fell, as the Barclays Aggregate Bond Index declined -0.6% (+7.7% YTD).

“Hedge funds were slightly positive while traditional markets declined amid renewed European debt fears,” commented Charles Gradante, Co-Founder of Hennessee Group. “In general, hedge fund managers feel frustrated with their performance as they have not been able to capitalize on moves within what has been a range bound market. Many managers have commented that the 2010 year is shaping up to be a macro event-driven market, leaving few opportunities to profit on fundamentals.”

(press release)

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