After struggling for much of the year, the equity long/short strategy of the Dow Jones Hedge Fund Strategy Benchmarks has come on strong in the past couple of months, and in November alone it surged 2.2%, on top of the 3.0% growth it recorded in October. As of the end of last month, equity long/short was up +7.5% year to date; as recently as September, when it rose just 0.2%, its YTD was a paltry 2.6%. The two other biggest gainers in November -- event driven (+1.7%) and distressed securities (+1.4%) – now have year-to-date tallies well into the two digits, +11.2% and +12.7%, respectively. For the first time in several months, convertible arbitrage was basically flat, inching up 0.1%, but the strategy has a good shot at topping 10% this year, making it a strong candidate for comeback strategy of the year after a dismal 2005. Merger arbitrage grew 1.2%, bringing its growth so far this year to 8.5%, and equity market neutral, off –0.2%, trails all other strategies YTD with 5.9%. The 52-week rolling percentages remain unchanged in most of the Dow Jones six strategies in the benchmarks.