Australia Hedge Funds Returns

Australia Hedge Funds Returns

Australia Hedge Funds Returns Up 1.9% in November

Australian hedge funds returned an average of almost 2% in November following a rally in equities.  This shows a continued recovery of Australia's hedge fund industry after sharp losses in the recession.  The Australian Fund Monitors Hedge Fund Index--which includes over 200 Australian hedge funds--shows a dramatic rise this year.  Single funds in the index reported a 19.7% gain this year.  You can learn more about about Australia's Hedge Fund Industry here.  Here is the current data from the AFM Index: 

The Eurekahedge Hedge Fund Index, tracking more than 2,000 funds globally, rose 1.5 percent in November and has gained 18 percent this year, according to the Singapore-based data provider’s preliminary report.
Equity long funds, which profit from rising share prices, posted the best returns among Australia-based funds last month, with gains of 5.4 percent. Funds that trade currencies fared worst, losing 1.7 percent.
The nation’s benchmark S&P/ASX 200 Index added 1.3 percent in November, its eighth gain in the past nine months.
The Baker Steel Gold Fund, managing A$76 million ($69 million), was the best performer among those that filed results, returning 19 percent.  Source
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