November was a difficult month for most hedge funds. As stock markets around the world slumped, funds struggled in the adverse environment. Overall, hedge funds posted declines for November, with the HFRX Absolute Return Index and the HFRX Global Hedge Fund Index declining -0.41% and -0.62%, respectively.
The Barclay Hedge Fund Index, which covers 2,777 funds across the $3 trillion hedge fund universe, is down 2.48% for the year to the end of November.
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Crispin Odey’s Odey European Inc. is one of the few funds bucking this trend. The Odey International Fund, which acts as a feeder fund for the Odey Swan Fund, a UCITS vehicle that is modeled on Odey’s flagship and longest-running strategy, Odey European Inc, added 0.41% in November, according to documents seen by ValueWalk.
