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eVestment have released their monthly Hedge Fund performance report (see attached) for November 2014.
A few headline points:
- Aggregate hedge fund performance was positive 1.08% in November, ending the industry’s two-month decline. Year-to-date returns of 2.85% are well below 2013’s full-year increase of 10.20%.
- The recent strong dollar run has been a huge benefit to large managed futures funds. The segment has risen nearly 11% since July and the managed futures universe is the leading major hedge fund strategy in 2014.
- Activist hedge funds posted gains in November, beating the S&P 500 and resuming their position among the leader of the industry in 2014, having erased nearly all of the universe’s aggregate losses from September and October.
- Credit strategies posted negative returns in November, the fifth month in a row of losses. A decline in high yield and European markets, coinciding with the strong USD and decline in oil prices, has weighed on the group.
- Emerging markets underperformed during the month, led to the downside by funds focused on Brazil. India posted another positive month bringing the group’s average returns to 52.10% in 2014.
