WEST PALM BEACH, FL (www.hedgeco.net) – The Van Global Hedge Fund Index posted a 1.6% net gain in December according to new released data. The index finished 2004 up 7.8 percent in a year generallymarked by difficult market conditions. Since the index�s inception in 1988 the index has gained in seventeen consecutive years. The December results are seen as preliminary and such data may changewith additional funds reporting their return data for the month.
George Van, Chairman of VAN said, “Hedge funds had another solid month in December and delivered another winning year to investors, although hedge funds in 2004 didn’t match their performance from the previous year, they performed well given the challenges they faced: a range-bound stock market until the November elections, rising oil prices and interest rates, and dampened volatility during parts of the year. Hedge funds have continued to show their ability to produce gains in a variety of market conditions, from the bull market of the ’90s, to the bear market of a few years ago, to the less directional market of 2004.”
However, the global equity indexes had a very strong fourth quarter performance following the US presidential elections in November. The S&P 500 gained 3.4%, the MSCI World Equity Index rose 3.7% and the Dow Jones Europe Stoxx 50 made 4.1%, bringing their 2004 returns to 10.9%, 12.8%, and 13.2%, respectively.
Van will release an updated December Van Index, based on a larger sample of funds, in mid-January; the �final versions of the Van Hedge Fund Indices reflect average performance for hedge funds on a global, a U.S. and an offshore basis, as well as by individual investment strategy and broad strategy groups�.
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 began constructing its hedge fund index in the early 1990s.
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: Editor@hedgeco.net
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