The Greenwich Global Hedge Fund Index was up 1.32% last month, according to preliminary figures from Greenwich Alternative Investments, while the Greenwich Investable Hedge Fund Index returned 1.29%.

“January performance is attributable to positive returns across all hedge fund strategies,” Greenwich General Manager Ben Rossman said, adding that roughly 90% of the 1,068 funds covered by the index where in positive ground in January.

Still both indices trailed the Standard & Poor’s 500 Index, which returned 1.51% in January.

Not all strategies trailed the S&P: Greenwich’s Market Neutral Group rose 1.53% in January posting its 15th consecutive positive month. Long/short equity, directional trading and special strategies returned 1.33%, 1.21% and 0.99%, respectively.