Hedge funds narrowly beat stock market in November: data

Mon Dec 3, 2012 9:57am EST

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(Reuters) - Hedge funds beat the broader stock market by a whisker in November, according to data published Monday.

Hedge funds rose 0.13 percent for the month through November 28, according to data compiled by Bank of America Merrill Lynch. The Standard & Poor's 500 stock index dropped 0.16 percent.

Hedge funds on average still trail stock market gains 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 recorded the worst performance, losing 0.35 percent.

(Reporting By Katya Wachtel; Editing by Gerald E. McCormick)

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