Hedge Fund Performance Commentary


Hedge funds finished November in the black with marginal gains amid an environment of heightened volatility during the first half of the month, and trend reversals across many sectors in the last two weeks. The Eurekahedge Hedge Fund Index was up 0.42%1 in November bringing its year-to-date (YTD) figure to 4.39%.

November started off on a cautious note with most funds and other market participants adopting a wait-and-see approach to the US presidential elections. Concerns surrounding the US ‘fiscal cliff’ then took over market sentiment while mixed signals from Europe about further support for Greece added to the risk aversion. These trends turned mid-month amid positive signals over the US budget and continued aid to Greece while positive economic data from the US & China added further strength to the rallies.

November 2012 and October 2012 returns across regions


Hedge funds across most regions posted positive returns for the month with Asian hedge funds leading the way. The Eurekahedge Asia ex-Japan Hedge Fund Index posted its fourth consecutive monthly gain, up 1.08% as the underlying markets rallied strongly from mid-month lows to finish the month with gains of 1.75%2. Japanese hedge funds reported the strongest returns …

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1Based on 45.10% of funds which have reported November 2012 returns as at 13 December 2012

2MSCI AC Asia Pacific Ex Japan Index All Core – Local Currency