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Article: November Proves Best Month This Year for Hedge Funds; Average Hedge Fund Breaks Even for Year to Date.
- Article from:
- Business Wire
- Article date:
- December 16, 2002
CopyrightCOPYRIGHT 2002 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Business Editors
NASHVILLE, Tenn.--(BUSINESS WIRE)--Dec. 16, 2002
Hedge funds produced their strongest returns so far this year in November, according to Van Hedge Fund Advisors International, Inc. (VAN), a global hedge fund advisory firm. The Average U.S. Hedge Fund gained 2.8% net of fees while the Average Offshore Hedge Fund posted a 1.5% net gain. Those returns erased losses incurred earlier in 2002 as both the Average U.S. Hedge Fund and the Average Offshore Hedge Fund broke even for the year to date through November.
Although the major stock market averages outpaced hedge funds last month, stocks continue to trail significantly ...