Bennelong's Long Short Equity Fund performed well in November, gaining 1.71%. However the manager said performance was adversely impacted late in the month by large volatility swings in world makets due to Dubai related credit issues.

Blackrock's Asset Allocation Fund gained 0.51% in October and is up 10.6% over the last 12 months. The manager says that major contributors to performance have been the Equity/Equity Strategy

The Wingate Global Equity Income Fund saw a small loss of 1.15% in October and over the last year remains down 2.18%. However this is significantly better than the fund's benchmark

Apostle's Loomis Sayles Credit Opportunities Fund was up 1.07% for the month, bringing their return for the year to 28.25%, although looking at the last two years the fund is still down 3.69%.

Prodigal's Absolute Cayman Fund had another strong performance in October, up 3.87%, continuing a trend that has seen the fund gain almost 60% since the start of this year.

Fortitude's onshore fund continues to produce positive returns as equity markets falter.

Herschel's Absolute return fund has reported a gain of 1.2% for October, largley due to investments in Galaxy Resources, Share Price Index Futures, Ten Network and Virgin Blue.

Commodity Strategies reported an estimated return of 4.90% for their long/short fund in October with energies, and to a lesser extent metals, contributing significantly to the strong result.

Apeiron reported a positive return for October, but is not convinced that the Federal Reserve can continue providing US banks with unlimited cheap credit forever.

Bennelong's Long Short Equity Fund reported strong growth of 2.65% for the month, although the manager says that this was achieved with modest turnover and most activity for the fund consisted of closing mature positions.