Hedge funds narrowly beat stock market in November: data

(Reuters) - Hedge funds beat the broade

r stock market

by a whisker in November, according to data published Monday. Hedge funds rose 0.13 percent for the mo

nth through November 28, according to data compiled by Bank of Amer

ica

Merrill Lynch. The Standard & Poor’

s 500 stock index dropped 0.16 percent. Hedge funds on average still trail stock market ga

ins for the year. Merger arbitrage and convertible arbitrage strategies were the best performers in November, Bank of America data showed, up 0.51 percent

and 0.44 percent respectively. Commodity trading advisers recorde

d the worst performance, losing 0.35 percent

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