Thursday, 29 January 2015
Last updated 1 hour ago
Mar 8 2010 | 4:13am ET
Hedge funds posted broad-based, if unspectacular, gains in February, according to Hedge Fund Research.
The HFRI Fund Weighted Composite Index rose 0.52% last month. The benchmark shed 0.71% in January, leaving it down 0.18% on the year.
All but four of the HFRI indices and subindices were in positive ground in February, led by quantitative directional funds, which rose 2.06% (0.9% year-to-date). Technology and healthcare funds added 1.5% (down 0.08% YTD) and systematic diversified funds 1.04% (down 2.07% YTD).
Macro funds added an average of 0.75% in February (down 1% YTD). Equity hedge funds were up 0.62% (down 0.58% YTD), while relative value funds rose 0.22% (1.79% YTD).
Event-driven was the only main HFRI index to lose ground last month, shedding 0.11% (up 0.57% YTD). The other losers were short bias (down 3.22% in Feburary, down 0.66% YTD), asset-backed fixed-income (down 0.64%, up 1.2% YTD) and energy and basic materials (down 0.11%, down 2.72% YTD).
Funds of hedge funds rose slightly, 0.12%, and are down 0.25% on the young year.
Regionally, Latin America funds did best on the month, adding 0.97% (down 1.88% YTD). Global emerging markets funds were up 0.21% (down 0.09% YTD). Asia ex-Japan funds dropped 0.23% (down 2.55% YTD) and emerging markets funds generally lost 0.71% (down 1.76% YTD). Russia and Eastern European funds took a beating on the month, losing 4.03% (down 2.44% YTD).
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…