Hedge Funds Rise 0.4% In Feb.

Mar 15 2010 | 1:07pm ET

Hedge funds rose slightly in February after falling slightly in January, according to RBC Capital Markets.

The investable RBC Hedge 250 Index returned 0.4% last month. Combined with its 0.1% decline from January, the benchmark is up 0.3% on the year.

Most of the strategies tracked by RBC were in positive territory in February, led by mergers and special situations funds, which rose an average of 0.88% (1.38% year-to-date). Macro funds added 0.75% (0.41% YTD), equity long/short funds 0.61% (down 0.08% YTD), managed futures funds 0.6% (down 2.44% YTD), credit and fixed-income arbitrage 0.31% apiece (up 2.13% YTD and 2.88% YTD, respectively), and multi-strategy funds 0.17% (0.78% YTD).

Just two funds lost ground last month. Equity market-neutral funds fell an average of 0.37% (down 0.06% YTD) and convertible arbitrage funds lost 0.11% (down 1% YTD).

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