Industry Updates

New Dow Jones Credit Suisse Hedge Fund Index commentary offers insight into November hedge fund performance

Friday, December 21, 2012

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Opalesque industry Update: The Dow Jones Credit Suisse Hedge Fund Index finished up 0.64% in November. A new monthly commentary offers insight into hedge fund performance through the month of November. Some key findings from the report include:

Hedge funds, as measured by the Dow Jones Credit Suisse Hedge Fund Index, finished November up 0.64%, with 9 out of 10 strategies in positive territory;
In total, the industry saw estimated outflows of approximately $1.3 billion in November, bringing overall assets under management for the industry to approximately $1.76 trillion;
The Fixed Income Arbitrage and Equity Market Neutral sectors experienced the largest asset inflows on a percentage basis, with inflows in November equal to 2.64% and 1.06% of the October 2012 levels, respectively;
Event Driven funds generally sustained positive performance in November. Contributors for the month were a diversified mix of long positions from credit strategies, namely stressed and distressed names, as well as special situation equities, and risk arbitrage; and
Long/Short Equity funds finished November in positive territory, though the first half of the month was poor for equity markets, driven by continued weak earnings numbers and some mixed economic data. Return drivers for the month for managers included Consumer Discretionary and Staples exposure, European Banks exposures, and select Health Care exposure.

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