Hedge Funds Shed 0.56% In Jan., Beat S&P 500

Feb 7 2014 | 1:40pm ET

Hedge funds lost 0.56%, in aggregate, in January but still managed to outperform the S&P 500 which shed 3.46% over the same period, reports eVestment.

Most strategies tracked by the data provider ended January in the red, with managed futures, down 1.48%, recording the biggest loss, followed by macro funds, down 1.31%; multi-strategy funds, down 0.76%; distressed funds, down 0.61%; event-driven funds, down 0.42%; long/short equity, down 0.28%; and directional credit, down 15%.

The best performers in January were relative value credit strategies, up 0.71%; convertible arbitrage, up 0.64%; event driven-activist, up 0.31%; and market neutral, up 0.22%.

Both developed and emerging markets funds lost ground in January, the former shedding 0.05%, the latter 1.06%.

Africa/Middle East funds were the best regional performers, adding 3.33% in January. All other regional funds tracked posted losses, led by Brazilian funds, down 5.00%; India funds, down 3.20%; Japan funds, down 1.75%; China funds, down 1.54%; and emerging Europe funds, down 0.37%.


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