All but one of IndexIQ’s IQ Hedge family of benchmark hedge fund replication indexes saw negative performance for the month ended 31 December 2011, according to figures released by the company.

The IQ Hedge Fixed Income Arbitrage Beta Index finished the month up 2.11% while the other six indexes all ended in negative territory with the IQ Hedge Event Driven Beta Index the worst performer, down 1.35%.

Designed as investable benchmarks that replicate the performance characteristics of sophisticated hedge fund strategies, the IQ Hedge benchmark indexes were originally introduced on 20 March, 2007, and have been calculating live since that date. IQ Hedge is the first family of investable benchmark indexes covering hedge fund replication/alternative beta strategies.