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Hedge funds recorded their strongest return in over a decade lead by the long/short equities

Wednesday, December 30, 2020
Opalesque Industry Update - Hedge fund managers the ended month of November up 4.49% on an equal-weighted basis, and 3.51% return on an asset-weighted basis, said a press note by Eurekahedge.

The better-than-expected efficacy of the COVID-19 vaccines and optimism on the new US administration boosted the performance of the global equity market during the month.

On a year-to-date basis, global hedge funds were up 8.17% over the first 11 months of 2020.

Over the month of November, US$8.8 billion of investor inflows on top of US$26.3 billion of performance-driven gains were recorded by the global hedge fund industry.

Global equities reacted positively to the relatively smooth conclusion of the US presidential election and better-than-expected results of the effectiveness of the COVID-19 vaccines, eclipsing worries about the near-term economic outlook.

In Europe, despite the reimposition of restrictive lockdown measures across many countries in the region to curb the increasing number of new COVID-19 infections, European stock indices rallied strongly as news of the better-than-expected efficacy of several vaccine candidates led to optimism that the worst of the pandemic could soon be over.

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