(Bloomberg) -- Seth Klarman’s Baupost Group posted a gain of about 2.8 percent so far this year as the hedge fund industry is on track for a yearly decline. The Boston-based hedge fund’s return is year-to-date through November, according to people familiar with the matter. A spokeswoman for Baupost declined to comment. Global hedge funds lost 0.1 percent on average in 2018 through last month, according to Hedge Fund Research Inc. The industry has struggled this year amid market volatility driven by rising interest rates and geopolitical tensions.