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FAIRFIELD, Iowa, December 16, 2014 — Hedge funds gained 0.79% in November, according to the Barclay Hedge Fund Index compiled by BarclayHedge. The Index is now up 3.47% in 2014.
“A continuing recovery in the US, along with increased monetary stimulus in Japan and possibly Europe, served to drive global equity prices higher in November,” says Sol Waksman, founder and president of BarclayHedge.
Overall, 15 of Barclay’s 18 hedge fund indices had gains in November. The Healthcare & Biotechnology Index was up 2.62%, Global Macro gained 2.34%, European Equities were up 1.97%, the Multi Strategy Index added 1.39%, and Equity Long/Short gained 1.22%.
“After having declined roughly 20 percent since mid-June, crude oil prices dropped another 10 percent in the first trading session after OPEC announced its decision not to cut oil production,” says Waksman.
“Crude oil prices fell 18 percent in November and Global Macro funds were well-positioned to profit, enjoying its best one-month gain since September 2010.”
The Equity Short Bias Index gave up 0.78% in November, Distressed Securities lost 0.65%, and Emerging Markets were down 0.58%.
Year to date, the Healthcare & Biotechnology Index leads all BarclayHedge indices with an 18.35% gain. Fixed Income Arbitrage is up 5.89%, Multi Strategy has gained 4.75%, Equity Market Neutral is up 4.41%, Global Macro has gained 3.74%, and the Equity Long Bias Index has added 3.40%.
It’s been a difficult year for hedge fund managers committed to shorting the equity markets. After 11 months, the Equity Short Bias Index has lost 13.61% in 2014.
The Barclay Fund of Funds Index gained 1.23% in November, and is up 2.67% for the year.
Click here to view five years of Barclay Hedge Fund Index data or download 17 years of monthly data.
Sol Waksman is an experienced media source, providing perspectives on hedge fund and managed futures trends. For more commentary or background, call 641-472-3456 or email swaksman@barclayhedge.com.
BarclayHedge was founded in 1985 and actively tracks more than 6,200 hedge funds, funds of hedge funds, and managed futures programs. Each month Barclay provides updated performance rankings for 38 Hedge Fund categories, 16 CTA categories, and 7 UCITS categories.
Institutional investors, brokerage firms, and private banks worldwide utilize BarclayHedge indices as performance benchmarks for the hedge fund and managed futures industries.
