U.S. MACRO HEDGE FUNDS ROCKET IN NOVEMBER; Post 10.4% Average Return in Month.
"Macro hedge funds profited, in part, from strong equity markets in the U.S. and abroad, rising U.S. bond prices, and a strengthening dollar," Mr. Van said.
The best performing hedge fund investment styles worldwide during November were U.S. Macro (+10.4%), U.S. Market Timing (+5.9%), Offshore Fund of Funds (+4.2%), Offshore Special Situations (+3.3%) and U.S. Value (+3.2%).
The average U.S. hedge fund gained 2.6% in November, while the average Offshore hedge fund gained 2.1%. By comparison, the S&P 500 gained 7.6% in November, while the average U.S. equity mutual fund gained 4.8%.
Year-to-date through November, the average U.S. hedge fund gained 19.1% and the average Offshore hedge fund gained 15.3%, while the S&P 500, the average U.S. equity mutual fund and the average U.S. bond fund gained 25.4%, 17.3% and 5.0%, respectively.
Year-to-date through November, the best performing hedge fund investment styles on average worldwide were U.S. Emerging Markets, up 26.5%, U.S. Special Situations, up 24.5%, and U.S. Market Neutral-Securities Hedging, up 24.4%.
For November and year-to-date through November, respectively, hedge fund returns by investment style were as follows: Aggressive Growth (U.S.: 2.8%/16.3%--Offshore: 1.9%/21.6%); Distressed Securities (U.S.: 0.9%/19.2%--Offshore: 1.5%/16.3%); Emerging Markets (U.S.: 2.5%/26.5%--Offshore: 3.0%/20.1%); Fund of Funds (U.S.: 3.1%/18.3%--Offshore: 4.2%/16.0%); Income (U.S.: 1.0%/10.5%--Offshore: 1.1%/4.3%); Macro (U.S.: 10.4%/15.9%--Offshore: 1.3%/18.5%); Market Neutral-Arbitrage (U.S.: 1.0/17.7%--Offshore: N/A); Market Neutral-Securities Hedging (U.S.: 0.5%/24.4%--Offshore: N/A); Market Neutral Strategies: (U.S.: N/A; Offshore: -0.6%/13.1%); Market Timing (U.S.: 5.9%/18.1%--Offshore: 2.4%/11.1%); Opportunistic (U.S.: 2.6%/19.2%--Offshore: 1.9%/18.6%); Special Situations (U.S.: 3.0%/24.5%--Offshore: 3.3%/18.3%); Short Selling (U.S.: -5.0%/-7.3%--Offshore: -4.4%/-11.8%); Several Strategies (U.S.: 1.4%/14.0%--Offshore: N/A); and, Value (U.S.: 3.2%/21.0%--Offshore: 2.9%/14.7%).
Van Hedge Fund Advisors, Inc. maintains one of the largest databases of hedge funds in the world. VAN's multi-year performance index is based on approximately 2,300 hedge funds (approximately 1,300 in the U.S. and 1,000 Offshore) that manage over $100 billion in assets. VAN obtains assistance from faculty of the Owen Graduate School of Management of Vanderbilt University to help ensure the statistical validity of its hedge fund research.
A registered investment advisor, Nashville, Tennessee-based Van Hedge Fund Advisors identifies top performing hedge funds for substantial investors both in the U.S. and overseas. -0-
Note to Editors: VAN has available upon request expanded information and tables on all statistics herein. VAN information on hedge funds is based on information received (and not audited or independently verified) from the hedge funds in VAN's databases and may not be representative of all hedge funds. Different statistics may be based on different numbers of funds. Averages are not dollar-weighted. Past results are not necessarily indicative of future performance. The monthly, quarterly and annual indexes are based on returns of funds reporting at periodic cut-off dates.
Database Reference: Investments, Hedge, Funds, Finance, Mutual Funds, Futures, Derivatives, Stocks, Bonds, Currencies, Commodities, U.S. Hedge Funds, Offshore Hedge Funds, Market Neutral.
CONTACT: Van Hedge Fund Advisors, Inc.
George P. Van, 615/661-4748