Barclay Hedge Fund Index Slides 2.34% in November
Hedge funds lost another 2.34% in November according to the Barclay Hedge Fund Index compiled by BarclayHedge, and are down an unprecedented 20.63% since June 2008.
“The past six months of losses have been the worst on record for the hedge fund industry,” says Sol Waksman, founder and president of BarclayHedge.
“Prior to 2008, the longest string of consecutive losing months was three. Hedge funds lost 4.25% from September through November of 2000, and then 3.30% from July through September of 2001.”
Many hedge fund strategies experienced significant losses in November. Barclay’s equity long bias index dropped 4.81%, healthcare & biotechnology fell 4.50%, the emerging markets index was down 4.22%, and convertible arbitrage lost 3.69%.