A rally in the global markets pushed November hedge fund returns higher.

The Preqin All-Strategies Hedge Funds benchmark gained +1.29% in November. That built on a +0.88% return in October and +0.4% in September. Hedge funds got a tailwind from the global rally in equities in November.

Hedge fund returns for the 11 months to November totalled +9.66%. However, for the past 12 months, hedge funds have clocked a gain of +7.27%.

Performance by strategy

Equity strategies gained the most in November by 1.86% (12.16% YTD), followed by event-driven’s gains of 1.65% (6.26% YTD), said Preqin.

However, macro strategies lost -0.02% (8.02% YTD).

Meanwhile, activist hedge funds pushed the envelope with November gains of a solid 3.04%(YTD 13.38%).

Preqin: Show by Region

North American hedge funds topped the charts with a monthly gain of 2.22% (YTD 11.04%) with APAC bringing up the rear with a mere 0.50% (YTD 8.78%).

Hedge fund show by currency

USD hedge funds led the way with 1.40% in November (YTD 9.86%), said Preqin. Hedge funds denominated in the Brazilian Real were the worst performers, scraping by with a November gain of just 0.50% (YTD 10.85%).

Other hedge fund stats

Funds of hedge funds as a whole gained 1.12% (YTD 8.49%) in November, according to Preqin data.

Alternative mutual funds returned 0.97% in November (YTD 8.49%). Equity strategy UCITS were up 1.49% in November (YTD 8.93%).

CTAs returned 0.88% in November (YTD 5.61%) with Discretionary funds putting on 2.32% in November (1.07% YTD).

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