New York (HedgeCo.net) – November was choppy for stocks as the S&P 500 gained in the first few days of the month, fell sharply from the third through the thirteenth, rallied back to move back in to positive territory and then hung on for a gain of 0.05%.

According to the Credit Suisse Hedge Fund Index, hedge funds as a whole performed a little better than the S&P during the month as the index logged a gain of 0.2%. This puts the CSHFI at a gain of 0.14% on the year, through the end of November. The S&P was up 1.04% through the end of November.

Managed Future strategies had the best performance in November with a gain of 3.73% while the worst performing style was the dedicated short bias with a loss of -3.27%. On a YTD basis, multi-strategy funds are leading the way with a gain of 3.62% while equity long/short strategies are second at 3.57%. On the down side, the worst performing style on the year are event driven strategies with a loss of 5.06%.

Rick Pendergraft
Research Analyst
HedgeCoVest