Hedge funds fell in February, according to an industry replication index.
IndexIQ's IQ Hedge Composite Index fell 0.32% in February, erasing January's small gain and leaving the benchmark down 0.22% through two months of 2013. The losses were broad-based, with only one of IndexIQ's six beta strategy indices in positive territory last month.
That strategy was fixed-income arbitrage, which rose 1.01% (1.48% year-to-date). At the other end of the spectrum, emerging markets fell 1.34% (down 2.01% YTD).
The IQ Event-Driven Beta Index lost 0.82% in February (down 0.91% YTD), the market-neutral index fell 0.36% (down 0.02% YTD), the global macro index 0.35% (down 1.53% YTD) and the long/short index 0.06% (up 1.71% YTD).