The Phoenixville Phoenix -The Greenwich-Van Global Hedge Fund Index (“GVGHFI” or the “Index”) gained +2.0% in November, while the Greenwich-Van Composite Investable Index (“Investable Index”) gained +1.2%, according to hedge fund index provider Greenwich-Van Advisors, LLC (Greenwich-Van).
“Many hedge fund strategies, with the exception of short sellers and convertible arbitrage managers, posted strong gains in November,” noted Wade McKnight, Vice President of Greenwich-Van. “The GVGHFI has returned 7.0% on a year-to-date basis compared to 5.3% for the MSCI World Equity Index, 4.9% for the S&P 500, 3.9% for the Russell 2000 and 2.6% for the Nasdaq. Only one of the twenty hedge fund indices tracked by Greenwich-Van (Convertible Arbitrage) is negative for the year.”
Futures managers in November led the pack returning 5.4%, partially deriving their stellar showing from U.S. dollar strength against European and Asian currencies. Other factors enhancing returns for Futures managers include mounting metals prices, long index positions and rehabilitated strength in the Nikkei.
