Preqin: Hedge Funds Add 1.72% In February

Mar 18 2014 | 11:54am ET

Hedge funds returned 1.72% in February, according to data from Preqin, bringing year-to-date gains to 1.42%.

Event-driven funds were the best performers in February, adding 2.67%, followed by long/short equities funds, up 2.08%; CTAs, up 1.76%; multi-strategy funds, up 1.63%; relative-value funds at 0.83%; and macro funds, up 0.56%.

In regional terms, North American funds led, returning 2.55% on the month. Europe funds returned 1.79% and Asia Pacific funds returned 1.28%. Developed markets funds generated 1.87% in February while emerging markets-focused funds returned 0.94%.

In year-to-date performance, event-driven funds are the best performers, up 3.04%, while macro strategies are the worst, up 0.19%.

Hedge funds of funds were up 1.70% in February (1.32% YTD) while UCITS funds were up 1.28% on the month (0.76% YTD). The best-performing UCITS strategy was long/short equities, up 1.95%.

“Investors may be reassured that the widespread negative returns across many of Preqin’s hedge fund performance benchmarks in January look to be a temporary blip rather than the start of a longer downward trend," said Amy Bensted of Preqin.

"Much of the January losses were led by declining equity markets which struggled at the start of the year following concerns around emerging markets and following the storms in the US. However, equity benchmarks improved in February, with indices such as S&P 500 reaching record levels; strategies which have a focus on equities, in turn, also saw strong performance for the month. Event driven and long/short funds both posted returns of over 2% in February, taking their 12-month net returns to 16.04% and 11.91% respectively."

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