The HFN Hedge Fund Aggregate Average is poised to finish 2006 as the best year in the last three, thanks to an unusually strong November. The average climbed 2.18% last month, bringing its year-to-date total to 10.65%, well ahead of the full 2005 year average of 8.98% and the 9.51% in 2004. The HFN Fund of Funds Aggregate Average also grew in November, 1.79% for a YTD total of 7.92%, compared with 2005’s full-year percentage of 6.81%. All of HFN’s regional and a single-strategy averages were up, with HFN Energy Sector Average surging 4.76%, for 14.89% YTD, followed by HFN CTA/Managed Futures Average, up 3.05% (6.94% YTD) and HFN Emerging Markets Average climbing 2.87% (17.96%). In fact, nine of HFN’s sub strategies are already in double digits for the year through November with HFN Distressed Average at 13.40%, followed by HFN Multi-Strategy Average (12.34%), HFN Event Driven Average (12.20%), HFN Europe Average (12.20%), HFN Convertible Arbitrage Average (11.0%, though it was the weakest November performer, +0.80%), HFN Long/Short Equity Average (10.88%) and HFN US Average (10.16%). Struggling among the group is HFN Market Neutral Equity Average, which moved up 1.10% but recorded only 6.02% so far this year. Meanwhile, the Hennessee Hedge Fund Index added another 1.84% in November bringing its year-to-date total to 10.06%. The Hennessee Long/Short Equity Index advanced 2.09% in November (10.62% YTD), while its Arbitrage/Event Driven Index increased 1.27% to 10.41% for the year so far. Both its convertible arbitrage fund and merger arbitrage indices moved up some 0.81%, giving them year-to-date total of 10.48% and 10.81%, respectively.