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Hedge funds’ November performance worst since March 2020

by Mike Robinson

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© Reuters. FILEPHOTO: This picture illustrates U.S. 100-dollar bank notes that were taken in Tokyo, August 2, 2011. REUTERS/Yuriko Nakao/File Photograph

LONDON, (Reuters) – Hedge funds saw their worst November performance since February, following a sell-off in global markets triggered by Omicron COVID concerns, according HedgeFund Research data.

After news about the variant made headlines, financial markets fell into an avalanche in November’s final week. Stocks in America lost almost 4% during the final five trading sessions. Also, volatility in the bond and currency markets soared.

According to a Wednesday report by the hedge fund research consultancy, November saw a 2.2% drop in the composite HFRI index weighted Index. This is the largest monthly decline since March 2020 when the pandemic coronavirus hit financial markets.

Omicron caught equity hedge fund managers who invest in long-term and short-term strategies off guard. They experienced a wide range of declines. These findings are similar to those from other research companies such as PivotalPath.

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