Barclay Hedge Fund Index Up 0.52% In January

Feb 16 2011 | 8:43am ET

Hedge funds gained 0.52% in January according to the Barclay Hedge Fund Index.

“Equity markets in the USA and across Europe continued to rally for a fifth consecutive month,” said Sol Waksman, founder and president of BarclayHedge.“Concern over the unrest in Egypt took a back seat to an improving macroeconomic picture.”

Overall, 14 of Barclay’s 18 hedge fund indices gained ground in January. Convertible arbitrage funds were up 2.13%, fixed income arbitrage funds gained 1.97%, distressed securities were up 1.63%, technology funds rose 1.64%, and multi-strategy funds gained 1.28%.

“High yield bonds rallied even though yields on the 10- and 30-year Treasuries rose,” says Waksman. “The improving economic outlook simultaneously raised concerns of Fed tightening and reduced fear of defaults.”

Equity short bias funds were down 0.49% in January, global macro lost 0.58%, and emerging markets slid 0.47%.

“In developing nations where prices for energy and food make up a larger percentage of monthly expenditures, inflation concerns negatively impacted equity markets,” says Waksman.

The Barclay Fund of Funds Index gained 0.27% in January.

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