Hedge fund returns continued their upward momentum in November, with the industry posting a monthly gain of 1.12%, according to the Barclay Hedge Fund Index compiled by BarclayHedge, a division of Backstop Solutions. By comparison, the S&P 500 Total Return Index was up 3.63% in November.
For the year-to-date through November, the hedge fund industry returned 8.97%. The S&P 500 Total Return Index gained 27.65% over the same period.
"In spite of four months in a row of declining consumer confidence, U.S. equity markets, as measured by the S&P 500 Index, were able to post new all-time month-end highs for a third consecutive month in November," said Sol Waksman, president of BarclayHedge. "The ensuing tailwind led the Barclay Hedge Fund Index to a new all-time high as well."
Twenty-three of BarclayHedge’s 31 hedge fund sector indices posted positive returns in November. The Healthcare & Biotechnology Index led the way with a 6.87% return. Other notable gainers include the Equity Long Bias Index, gaining 3.00%, the Emerging Markets MENA Index, up 1.72%, the Technology Index, advancing 1.54%, and the Emerging Markets Global Equities Index, up 1.38%.
Among the sectors in negative territory for the month are the Emerging Markets Eastern European Equities Index, down 2.37%, the Global Macro Index, losing 1.04%, and the Distressed Securities Index, off 0.96%.
Only two hedge fund sectors have losses on the year as of the end of November. The Equity Market Neutral Index has lost 0.77% and the Volatility Trading Index has given back 0.58% year to date.
Setting the pace among the top year-to-date gainers are the Healthcare & Biotechnology Index, up 20.78%, followed by the Technology Index, gaining 16.02%, the Emerging Markets Eastern Europe Index, returning 14.32%, and the Equity Long Bias Index, up 14.26% on the year.
For a complete table of BarclayHedge Hedge Fund and Sub-Index results for November, as well as historical returns, click here.
About Backstop Solutions
Backstop’s mission is to help the institutional investment industry use time to its fullest potential. We develop technology to simplify and streamline otherwise time-consuming tasks and processes, enabling our clients to quickly and easily access, share, and manage the knowledge that’s critical to their day-to-day business success. Backstop provides its industry-leading cloud-based productivity suite to investment consultants, pensions, funds of funds, family offices, endowments, foundations, private equity, hedge funds and real estate investment firms.
BarclayHedge, a division of Backstop, currently maintains data on more than 7,100 hedge funds, funds of funds and CTAs. The BarclayHedge Indices are utilized by institutional investors, brokerage firms and private banks worldwide as performance benchmarks for the hedge fund and managed futures industries.
BarclayHedge division of Backstop Solutions Group