The Credit Suisse/ Tremont hedge fund index was up 2.11 per cent for November, bringing year-to-date returns to 17.53 per cent, with managed futures and global macro leading sector performance.

The managed futures and global macro indices posted returns of 4.94 and 3.52 per cent respectively for November. Year-to-date, the global macro index is up 13.17 per cent and the managed futures index is down 1.65 per cent.

The only index to be down for November was the dedicated short bias index, which returned -2.99 per cent, but which was the top performing index in October, for which it returned 4.79 per cent. 

Year-to-date the top performers are the convertible arbitrage and emerging markets indices, returning 44.14 and 27.51 per cent respectively.

Hedge funds have bounced back considerably this year – after a disastrous 2008 – as inflows and returns have begun to recover, along with confidence in the industry and the wider economy.  

The Credit Suisse/Tremont hedge fund index is an asset-weighted index constructed using a database of over 5,000 hedge funds, including both open and closed funds, excluding fund-of-funds, located in the US and offshore. All the funds included have at least $50 million AuM, a 12-month track record and audited financial statements.