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Greenwich Global Hedge Fund Index down -1.1% in November (-4.1% YTD)

Friday, December 09, 2011
Opalesque Industry Update - Hedge funds as measured by the Greenwich Global Hedge Fund Index (“GGHFI”) posted losses in November, losing ground during the latter half of the month on weak fundamentals in European markets. The GGHFI shed 1.05% compared to global equity returns in the S&P 500 Total Return (-0.22%), MSCI World Equity (-2.69%), and FTSE 100 (-0.70%) equity indices. 39% of constituent funds in the GGHFI ended the month with gains.

“European headlines continue to dictate the mood of global markets and cause increased volatility in equities. Hedge fund managers have decreased leverage and exposure to mitigate market risk but are still exposed to broader moves,” notes Clint Binkley, Senior Vice President.

Hedge Fund Strategy Highlights

  • Directional Trading funds lead hedge fund strategies, advancing 0.17% on average
  • Market Neutral Funds move sideways, losing 0.35%. Equity Market Neutral funds are best performers in the group, gaining 5 bps.
  • Long-Short Equity funds trail other averages, falling 2.40%
  • Developed market funds show substantially better returns than Emerging market managers; Composite Regional Indices post returns of -0.55% and -4.53%, respectively

(press release)

Full performance table: Source


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