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Bailey McCann, Opalesque New York: Hedge funds had overall weighted average return of 2.4% in November, according to data from Citco. That brings overall weighted average year to date returns to 13.3%.
Equity strategies were the top performing category of funds in
November, with a weighted average return of 3.4%, making it seven
straight months of positive returns.
Next were Global Macro strategies which achieved a weighted average
return of 2.6%, followed by Multi-Strategy at 2%, and Fixed Income
Arbitrage at 0.7%, while Commodities strategies came in at 0.3%.
Only Event Driven funds were negative in November, with a weighted
average return of -0.4%.
Meanwhile, the rate of return spread - the difference between the 90th
and 10th percentile fund returns - widened further to 9.5%, up from
8.2% in October, showing a greater disparity of returns.
Hedge funds also saw nominal inflows in November which should keep them on pace for overall positive yearly inflows, Citco says.
Subscriptions of $8.6B were ahead of redemptions of $8.1B, to give overall net inflows of $0.5B. In total, funds have seen $4.7B of net
inflows year to date to end of November.
On a year to date basis, Hybrid and Multi-Strategy funds have been the most popular, with net inflows of $13.7B and $5.7B respectively, while
Equity strategies have seen the highest net outflows, at $10.6B, amid a backdrop of strong returns from major equity markets around the
world.
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