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The Greenwich Arbitrage Investable Index was the best performer for the month, gaining 0.88%, putting its year-to-date return at nearly 10%. The Greenwich Event-Driven Investable Index also advanced, netting 0.35% as positions in special situations and distressed assets performed better than blue chip equities. Laggards on the month included Futures managers as trend-following strategies experienced a reversal of fortune. Year-to-date, Arbitrage, Event-Driven, and Long-Short Credit strategies still lead other Investable Indices, all with net returns above 7%.

“The upswing in equities following the Fed’s announcement of quantitative easing was short-lived as markets spent the rest of the month consolidating their gains and trading downward. Hedge funds showed mixed results as managers prepared for what many expect to be a seasonal upswing in December,” noted Clint Binkley, Senior Vice President. “Overall, funds that trade in fixed-income securities appear to be having a more favorable year than equity-based managers. Even though there is talk of inflated asset prices in bonds, managers are optimistic about prospects heading into 2011. ”

(press release)

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