Early estimates indicate the Dow Jones Credit Suisse Hedge Fund Index pulled back in November, posting slightly negative performance of 0.28 per cent for the month.

Five out of the ten sectors in the index generated positive performance for the month and the industry is up an estimated 7.72 per cent for the year.

Despite overall global equity markets losses, with the Dow Jones Global Index down 2.16 per cent for the month, long/short equity managers were among the best performers in November finishing up an estimated 0.58 per cent. Positive performance in the space was largely driven by stock-specific gains.

In a reversal from their index-leading performance in October, managed futures funds finished down 4.09 per cent for November. Losses were generally the result of a mid-month price reversal in sugar contracts which negatively affected many trend-following managers.