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Hedge funds advance +1.39% (est) in February, (+2.08% YTD)

Monday, March 07, 2011
Opalesque Industry Update - Hennessee Group LLC, an adviser to hedge fund investors, announced today that the Hennessee Hedge Fund Index advanced +1.39% in February (+2.08% YTD), while the S&P 500 advanced +3.20% (+5.53% YTD), the Dow Jones Industrial Average increased +2.81% (+5.61% YTD), and the NASDAQ Composite Index climbed +3.04% (+4.87% YTD). Bonds advanced, as the Barclays Aggregate Bond Index increased +0.25% (+0.70% YTD) and the Barclays High Yield Credit Bond Index advanced +1.31% (+3.55% YTD).

“Global equity markets posted gains for February despite heightened volatility from the civil unrest in the Middle East and North Africa. Managers benefited from modest net long exposure, but overweight exposure to cyclicals, shorts and hedges detracted from performance,” commented Charles Gradante, Co-Founder of Hennessee Group. “Managers remain constructive on the equity markets, but are closely monitoring oil markets.”

(press release)

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