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From Precy Dumlao, Opalesque Asia:
Hedge funds ended the "challenging and horrible" 2011 on a negative note as most indices declined in December and concluded the year in the red for only the third time since 1990, various reports gathered by Opalesque showed.
The HFRI Fund Weighted Composite Index declined by -0.18% in December, bringing full year 2011 performance to -4.8%, according to data released by HFR (Hedge Fund Research, Inc.), a provider of data, indices and analysis of the global hedge fund industry.
The negative 2011 results mark only the third calendar year decline since HFR's index performance inception in 1990, but is the second negative performance in the last four years. Hedge funds posted +1.3% gains in 4Q11, following a sharp 6.7% decline in the volatile 3Q; hedge funds gained +0.77% in 1H11.
Kenneth J. Heinz, president of HFR said, "Volatile and unpredictable market dynamics throughout the year created a challenging environment for hedge funds in 2011, with aggregate losses across currency, commodity, Emerging Markets and equity strategies related to the European currency and sovereign debt crisis. Risk-off trades dominated 2011, creating challenges for convergence oriented funds, while contributing...................... To view our full article Click here
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