Hedge funds returned negative -2.7% in November, bringing their year-to-date decline to 18%, according to the Hennessee Hedge Fund Index, The Wall Street Journal reports. While the decline is painful, it is at least less than the -5.5% loss in October and the double-digit declines in the Standard & Poor’s 500 Index, the Dow Jones Industrial Index and the Nasdaq.

Still, declines across the board are causing headaches for mutual fund and hedge fund managers alike. “While many managers are seeing attractive investment opportunities, many are struggling to retain investors and their capital bases,” said Charles Gradante, co-founder of the Hennessee Group.

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