007bps in November gives solace to Asian hedge funds

Asian hedge funds were up in November, according to Eurekahedge. The overall global hedge fund market, however, is in the red and funds of hedge funds continue to bring up the rear.
Asian hedge funds bucked the trend in November with seven basis points of positive performance.

Furthermore, the best performing regional hedge fund sector was Japan, with a 0.82% positive performance.

The picture isn't so good elsewhere, however. Overall hedge funds lost 0.38% in November and thatÆs the sixth straight month of declines. Funds of hedge funds lost 1.3% to show an 11-month dismal performance of -18%, and that is nearly 50% worse than for the overall hedge fund index.

These are an early snapshot of Eurekahedge results. The firm expects that the sector loss may worsen from -0.38% to around -2% when all funds have reported. (Presumably on the rationale that if your result is a stinker, you won't be in such a hurry to send your performance numbers in).

Commodity trading advisor (CTA) portfolios, managed futures, fixed income and macro each had a positive month, but all other hedge fund strategies were down for November.

Industry assets have fallen in the month by $64 billion. This is made up of $18 billion in losses and $46 billion in net redemptions.
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