Tuesday, 21 February 2017
Last updated 15 min ago
Jan 23 2013 | 11:12am ET
Hedge funds are off to a strong start in 2013, although, as throughout last year, they still trail the broader markets.
Hedge Fund Research's HFRX Global Hedge Fund Index rose 1.45% through Jan. 17. The benchmark, which is lagging the Standard & Poor's 500 Index, was up 3.51% last year.
Most of the suite's strategy benchmarks were up in the first half of the month. Master-limited partnerships were up 4.57% in the early going, followed by special situations at 2.64%, fundamental value at 2.21% and event-driven at 2.2%.
Equity hedge funds were up 1.82%, relative-value arbitrage funds 1.55%, credit funds 1.16%, convertible arbitrage funds 0.82%, merger arbitrage funds 0.39% and macro funds and commodity trading advisers 0.03%.
Two strategies lost ground: systematic diversified CTAs, down 0.33%, and equity market neutral, down 0.27%.