The UCITS Hedge Fund Strategy Index dropped the first time this month as a loss of -0.89% was recorded in the third week of November (by business day 15, November 19th, 2010), leading to month to date performance of +0.33%.
Out of the eleven strategies ten were in the red, the biggest losers being CTA (-4.16%), Global Macro (-1.28%) and Convertible (-1.15%). The record loss of CTA is the biggest weekly loss so far in 2010 and leaves the strategy at -0.36% year to date, therefore being the only strategy with a negative return this year.
The only strategy that performed positive was Market Neutral (+0.09%), but obviously those modest gains couldn’t make up for the other heavy losses. From a year to date perspective the broad UCITS HFS Index now stands +3.95%.