Hedge funds end disappointing 2011 on flat note

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Another negative overall month for European hedge funds in December saw the EuroHedge Composite Index ending a difficult and disappointing year down by 2.74% on a median basis and by 4.80% on a mean basis, after losing 0.10% and 0.29% respectively in December.

Emerging market equity was the worst-performing strategy in 2011, followed by global equity – both of which suffered double-digit average losses.

The medians and means were negative for most other strategies, too, on the year – particularly in event-driven, European equity, managed futures and convertible arbitrage.

Only three sectors ended the