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Year-to-date (YTD) 2021 average performance is positive at +8.23% and most major strategies, market exposures and sub segments of the hedge fund business are still in the green for the year, with some segments performing exceedingly well YTD in spite of the red predominant in November's performance charts.

India-focused funds are shaping up to be the big performance winners in 2021. Although these funds were down -2.07% in November, they are leading the hedge fund business with YTD performance at +40.01%. Other fund types shaping up to be big winners for the year are Equity-Energy funds, which came in at -1.18% for November but YTD sit at +25.73% and Event Driven - Activist funds which were also down at -1.72% in November but YTD have returned +22.01%.

Managed Futures funds were the big performance losers among primary strategies eVestment tracks at -3.44% for November. And while YTD performance is positive at +5.96%, this is dwarfed by many other types of funds that have performed far better this year.

Among Equity fund subsectors eVestment tracks, Equity - Financials are another strong YTD performer, at +21.92% through November, although these funds also had negative average performance for the month of -0.86%.

Equity - Healthcare funds, on the other hand, took a big dive in November, with average returns at -5.51% for the month, which dragged these funds' average YTD returns into the red at -3.98%.

Russia-focused funds also took a tumble in November, with average returns coming in at -5.90% for the month. These funds are still in the green YTD with average returns of +11.52%.

Macro funds average returns stood at -2.04% in November. With only one month left in 2021, another negative month could pull these funds into negative territory for the year as their YTD average performance is only at +1.08%.