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Laxman Pai, Opalesque Asia: The global hedge fund business has posted among the highest average monthly returns in 20 years at +5.92% during the month, bringing the year to date (YTD) average returns to +6.90%.
According to eVestment November 2020 hedge fund performance data, about 68% of the industry is now producing positive results in 2020, with the average gain among those posting positive returns near +15%, while the average decline among those posting negative returns is near -9%.
"Reported returns for November are among the highest average monthly returns in over 20 years, currently surpassed only by average returns near the peak of the dot-com bubble in December 1999," said eVestment Global Head of Research Peter Laurelli.
The big YTD 2020 performance winners are China-focused funds, which have returned an average of +25.78% so far in 2020, although their +4.55% performance trailed many other hedge fund types in November. China-focused funds' YTD 2020 performance has surpassed the +22.56% average return these funds posted for all of 2019.
Among primary fund types, Equity funds produced the strongest average returns, at +8.24% in November, bringing Equity fund YTD returns to +9.80%, said the report.
Among Equity sub-sectors, Energy-, Financials- and Technology-focused funds all produced returns above +8%, with Technology-focused Equity funds being big performance winners with average YTD returns of +22.38%.
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