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Alternative Market Briefing

Hedge funds outperform in February - Citi Prime Finance

Friday, March 28, 2014

Bailey McCann, Opalesque New York:

Hedge funds posted gains through the month of February, bringing them to highs last seen in Janauary 2013 according to the latest performance data from Citi Prime Finance. Composite hedge fund performance, equal-weighted across funds, was up in February 2014 to the highest levels since Jan-13. Performance ranged from +1.59% to +2.03%. Returns were higher than the previous month which experienced -0.54% to -0.24% over the same period.

Hedge fund strategy wise, top performing strategies in February 2014 include Event Driven at +2.63%, Distressed +2.61%, Equity Long/Short +2.54%, and Multi Strategy at +1.62%. The lowest performing strategies include Dedicated Short -4.24%, Equity Market Neutral +0.96%, and Fixed Income Arbitrage at +1.07%.

Hedge fund industry assets also rose significantly in February 2014 realizing an increase of +$81.9bn for the month after experiencing a decrease of $13.1bn in January. February gains were balanced across investor flows and performance which totaled $41bn respectively. Net positive investor flows of +$40.9bn for February 2014 is the largest inflow to hedge funds on record according to eVestment reporting. The most recent period of investor flows greater than $30bn occurred in Feb-12. YTD investor flows now stand at $42.5bn.

Overall, the troubling circumstances in Ukraine haven't had as big of an effect on markets as some thought it might. But US and European equity markets posted gains as ......................

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