It was a quiet January for hedge funds, according to Dow Jones Hedge Fund Indexes.
The three Dow Jones Hedge Fund Strategy Benchmarks still being published were close to flat, according to estimated returns from last month. Event-driven funds opened the year with a 0.7% rise, while merger arbitrage and equity long/short fell slightly to begin 2010. The former dropped 0.06%, and the latter 0.28%.
The Standard & Poor’s 500 Index, by contrast, fell 3.6% on the month.
Dow Jones’ convertible arbitrage, distressed securities and equity market-neutral benchmarks remained suspended in January.