WEST PALM BEACH, (www.HedgeCo.Net) – Standard and Poor�s said on Tuesday that hedge fund returns in November benefited from the falling US dollar, and rising equity markets following the recent USpresidential elections. The Managed futures strategies according to S&P gained an impressive 5.39% in October, following a gain of 5.56% in October.
According to the statements from S&P management, “The macro sector performed solidly in November as the dollar continued to play a strong role in many managers’ portfolios, gains were found in both short U.S. dollar positions and long equity index positions … the dollar fell on continued expansion of the U.S. current account deficit.”
S&P hedge fund index made gains of 1.45 percent in November bringing its year-to-date average to 2.62 percent. Hedge funds continue to struggle as one of the hardest years in their recent history gradually moves towards an end. The S&P 500 equity index gained 3.86 for November, its year-to-date average remains at 2.97 percent.
The fixed-income strategies were among the worst performers for the month. That index shed 0.32 percent for the month, following a 0.13 percent loss in October. According to S&P, “Fixed income arbitrage had a flat month with (U.S. Federal Reserve) rate increases finally working their way into bond yields.�
The S&P long/short hedge fund index made gains of 3.27 percent, benefiting from the post election market rally. In October, the index gained a scant 1.17%. The S&P Hedge fund index is constructed out of 40 hedge funds according to S&P statement.
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: [email protected]
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