WEST PALM BEACH, FL (www.hedgeco.net) – Hedge funds continue to post better results, according to the latest data from the Van Global Hedge Fund Index. According to VAN, hedge funds gained 2.4% Netfor November preliminary returns, based on over 300 hedge funds that have reported to VAN. The November return brings the Index to a preliminary year-to-date gain of 5.8% net. The November returnsmay end up as the best month for hedge funds in 2004.
George Van, Chairman of VAN said, “The stock markets had a strong post-election bounce last month and equity-oriented hedge funds benefited, nine out of every ten funds included in our November Index had a positive return, the highest rate we’ve seen in quite some time. With the exception of short sellers, we’re seeing positive performance across all strategies. The 2.4% net gain for the Index this last month represents the best month that hedge funds have had since October of last year.”
According to Van, many hedge funds did not participate in the �November’s stock market run-up, largely due to their short positions and exposure to other asset classes.� The S&P 500 gained 4.0% last month, while the MSCI World Equity Index and the Dow Jones Europe Stoxx 50 made gains of 5.1% and 5.8%, respectively.
The Van Global Hedge Fund Index so far this year has gained 5.8%. That performance is better than the NASDAQ and the Dow, which have gained 5.1% and 1.7% for the year to date, respectively. However, two indexes, the S&P 500, and the MSCI World Equity Index, have done better than hedge funds, with gains of 7.2%, and 8.8%, respectively, year-to-date according to Van�s data.
Van will release its updated November hedge fund performance in mid-December. Van Hedge Fund Advisors International, LLC (“VAN”) is a global hedge fund advisory firm which constructs hedge fund portfolios for international institutions and wealthy investors. VAN bases its work on its pioneering research on hedge funds begun in the early 1990s.
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: Editor@hedgeco.net
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