Hedge funds got off to a moderately good start to 2012, with the average fund rising 2.26% in January, one industry index shows.
The Dow Jones Credit Suisse Core Hedge Fund Index did trail the broader markets, with the Standard & Poor's 500 Index rising more than 4% on the month.
All seven of the strategies tracked by the Dow Jones Credit Suisse indices rose in January, led by convertible arbitrage, up 3.47%. Long/short equity fund returned an average of 3.21% on the month, event-driven funds 2.9% and global macro funds 1.96%.
Emerging markets funds rose 1.8%, managed futures funds 0.95% and fixed-income arbitrage funds 0.93% on the month.