The CSFB/Tremont Hedge Fund Index was up 1.08% in November, it emerged this week. This brings the index's year-to-date returns to 13.23%.
Speaking with regard to last month's gains, Oliver Schupp, President of Credit Suisse First Boston Tremont Index LLC announced that: "With stock markets generally higher in November, hedge funds in equity oriented strategies generated positive returns, lifting the broad Index up to 13.23% year-to-date."
Robert I. Schulman, Co-Chief Executive Officer of Tremont Capital Management, Inc, explained that:
"The long/short equity funds took advantage of rising equity markets and returned 1.70% in November. But the emerging markets funds stole the show once again in the year-to-date calculations, now up 24.33%."
However, dedicated short bias funds performed badly once again last month, dropping by 1.89%.
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