Institutional Investors Tepid To Additional Hedge Fund Allocations

New hedge fund allocations were soft in November, as funds were generally engaged in strong net equity covering, a JPMorgan Prime Brokerage Global Hedge Fund Trends report notes. Equity hedge funds ended positive in November, up 0.9% basis the HFRI Fund Weighted Composite Index, which is up 3.57% on the year. This contrasts with a 3.42% November rise in the S&P 500 index, which was up 9.79% at the end of November. Hedge fund performance was weighed down by Global Macro, where commodity and CTA strategies contributed to losses, the report noted. Global hedge funds outpaced major stock market benchmarks,…