Barclay Hedge Fund Index Extends Gains In November
The Barclay Hedge Fund Index gained 1.89% in November, with rising equity prices
once again a key driver of hedge fund performance over the month. The Barclay Hedge Fund Index tracks the performance of more than 2,800 single-manager
hedge funds, and according to the firm, 89% of funds reporting their performance
were profitable in November. “For the fourth month in a row, increasing equity prices set the stage
for hedge fund profits in most strategies,” announced Sol Waksman, founder
and president of The Barclay Group. “The decline in US interest rates not only helped support domestic equity
prices, but also drove yield-hungry investors to bid up prices of distressed
and high yield bonds," he added. Only the Equity Short Bias Index fell, down 2.95% in November and 6.70% for
the year. “The past four months have been difficult for short-sellers. It’s
hard to make money on the short side when the broad market is in rally mode,"
observed Waksman. Year-to-date, the Barclay Emerging Markets Index has gained 17.81%, Healthcare
and Biotechnology is up 14.12%, and Equity Long Bias has gained 13.23%. “All of the MSCI regional emerging market indices measured gains in November.
Only a handful of countries - Columbia, Jordon, Morocco, Pakistan and Turkey
- experienced equity market declines," noted Waksman. The Barclay Hedge Fund Index is up 10.75% for the year. A comprehensive report in our Intelligence Report series examining offshore investment, offshore stock exchanges, and hedge funds is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report9.asp
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