Opalesque Industry Update - Early estimates indicate the Dow Jones Credit Suisse Hedge Fund Index (“Broad Index”) extended gains in January, posting positive performance of 0.55% for the month (based on 73% of assets in the index reporting).|
Key highlights for the month:
Hedge Funds posted a positive start to the year, as the Dow Jones Credit Suisse Hedge Fund index rose an estimated 0.55%. Six out of ten sectors posted positive performance for the month.
Convertible Arbitrage funds were among the top performers for the month finishing up 2.22% as managers benefitted from a rise in convertible bond prices.
The Event Driven sector continued to post positive performance in January due primarily to increased opportunities in the special situations space. The largest gains were seen in the Distressed sub-index which gained 2.06%.
Equity Market Neutral funds posted positive performance in January, finishing up 1.79% for the month as managers were able to capitalize on sector rotations and price reversals.