In aggregate, U.S. hedge funds continued to lose money in November, but they generally lost less than in either September or October, which were two of the most brutal months on record.
According to the Absolute Return Composite Index, U.S. hedge funds slipped a median 0.6% in November, for a year-to-date decline of 7.32%. The index lost 3.3% in October and 4.2% in September, the worst monthly result on record.
Hedge funds continued to outperform the broader indices, however. In November, the Standard & Poor’s 500 declined 7.48% (-38.97% for the year) while the Nasdaq Composite Index lost 10.77%