Investing December 15, 2000

Hedge Funds Slip, But Short Bias Helps November

December 15, 2000 (PLANSPONSOR.com) - Hedge fund returns slipped again in November, with the CSFB/Tremont Hedge Fund Index down -1.5% for the month. Still, that was better than most equity indexes.
Reported by

The CSFB/Tremont Hedge Fund Index is still up 2.1% year-to-date through November.

Stock market losses were good news for the dedicated short bias category, which was up 13.8% for the month, and 14.8% higher for the year-to-date. Managed futures also turned in a good November performance, up 6.7%, though down 3.3% for the year.

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Performance for the CSFB/Tremont Hedge Fund Index and the nine style-driven sub-indices for November follow:

Convertible Arbitrage

-0.5%

Dedicated Short Bias

13.8%

Emerging Markets

-3.6%

Equity Market Neutral

0.3%

Event Driven

-0.8%

Fixed Income Arbitrage

0.7%

Global Macro

3.6%

Long/Short Equity

-3.8%

Managed Futures

6.7%



The index is calculated monthly and includes the results of 337 funds, drawn from more than 2600 hedge funds, both US and offshore.

Funds must have at least US $10 million under management and an audited financial statement. The Index does not include funds of funds.

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