Investable Hedge Funds Dragged Down By Quants, E.M.

Feb 20 2008 | 7:43am ET

Investable quantitative and emerging markets funds plummeted last month, according to Hedge Fund Research.

The firm’s HFRI Emerging Markets Index fell 6% in January, while its Quantitative Directional Index lost 5.89%. Overall, investable hedge funds fell 2.26% during the month.

Equity hedge funds, which include the quantitative funds, dropped 4.22%, with event-driven declining 2.29% and relative value 0.27%. Macro funds rose 1.51%.

The strongest performers were short-bias funds, which jumped 5.73%. Systematic diversified macro funds also gained, rising 2.66%.

Losses were widespread among emerging markets funds, last year’s top performer. Asia (ex-Japan) and Russia and Eastern Europe funds were particularly hard-hit, falling 7.73% and 7.86%, respectively. South America funds dropped 2.38%.

Investable funds of funds declined by 2.93% in January.


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