Wednesday, 10 February 2016
Last updated 5 hours ago
Mar 5 2013 | 10:12am ET
Hedge funds suffered a let-down in February, losing ground after a strong opening to the month.
The average hedge fund lost 0.16% last month, the Credit Suisse Liquid Alternative Beta Index shows. The decline increases the industry’s streak of trailing the Standard & Poor’s 500 Index, which rose 1.4% in February.
The LAB index is up 0.93% through the first two months of the year, after its 1.1% jump in January.
Event-driven funds were the best performers tracked by the LAB indices, rising 0.17% on the month (1.77% year-to-date). Managed futures funds gained an average of 0.11% (2.3% YTD).
The other three strategies tracked by Credit Suisse lost ground in February. Merger arbitrage funds fell 0.01% (up 2.3% YTD), global strategies 0.07% (up 1.38% YTD) and long/short funds 1.02% (down 1.96% YTD).