November rally drives gains across the board

Fri Dec 16, 2005



November's broad market rally lifted most hedge fund strategies, bumping the Absolute Return Composite index up 0.88% on the month to 4.8% for the year, preliminary data show.

As a whole, however, hedge funds underperformed the broader markets as short positions put a drag on upward market momentum, especially in equities.

The S&P 500 index, for example, gained 3.73% for the month...

ISSN: 2151-1845 / CDC10004H

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