Hedge Funds Up 0.87% In Feb.

Mar 9 2010 | 3:46am ET

Hedge funds posted mixed, if broadly positive, returns in February, according to the Credit Suisse/Tremont Hedge Fund Index.

That index rose an estimated 0.87% last month. Combined with its 0.17% return in January, the index is up 1.04% in 2010.

Managed futures was the strongest strategy in February, rising 2.01% (down 1.88% year-to-date). Long/short equity wasn’t far behind at 1.58% (0.06% YTD), followed by global macro at 1.25% (2.33% YTD).

Convertible arbitrage funds returned 0.63% last month (1.61% YTD). Multi-strategy funds rose 0.6% (1.16% YTD). Event-driven funds added 0.48% (1.91% YTD).

On the red side of the ledger, short-bias funds took a beating as stocks soared, falling 4.18% on the month (down 3.92% YTD). Equity market-neutral funds shed 1% (down 0.9% YTD) and emerging markets funds lost 0.54% (down 1.3% YTD). Fixed-income arbitrage funds and risk arbitrage funds were essentially flat, if down slightly. The former dropped 0.07% (up 1.95% YTD) and the latter 0.03% (up 0.37% YTD).


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