Hedge funds gained 1.93% in November, setting the industry on course for possible double-digit returns in 2005, The Barclay Group said on Wednesday.
Last month’s performance, which was fueled by a surge in global stock markets, leaves the Barclay/GHS Hedge Fund Index up 8.36% so far this year, the firm added.
“Rising stock markets were the ‘wind behind the sails’ for equity-based hedge fund strategies which, by assets under management, comprise the largest sector of the hedge fund universe,” said Sol Waksman, founder and president of company.
