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Hedge fund inflows continued in February - returns led by commodity strategies

Wednesday, March 09, 2011
Opalesque Industry Update - Hedge funds returned an average of 1.45% in February and the rate of net investor inflows was again strong

Below are early estimates* for February hedge fund performance and asset flows. A full report will be available later in the month.

February Highlights:

The equal weighted HFN Hedge Fund Aggregate Index was +1.45% in February 2011 and +1.73% year-to-date (YTD). The S&P 500 Total Return Index (S&P) was +3.43% in February and +5.88% in the first two months of 2011. Hedge fund assets increased an estimated 2.01% in February to $2.539 trillion. Net investor flows accounted for a core rate of growth of 0.70%, the highest since October 2010 and well above the average monthly rate of 2010. HFN defines core growth as the % increase in AUM due solely to net investor inflows.

The growing number of conflicts in the Middle East had a large influence on hedge fund performance in February. Commodity focused funds surged in February, led by those investing in precious metals markets while emerging market funds were a drag on the aggregate.

Funds investing in the MENA region and India were the main laggards, returning an average of -5.10% and -1.41%, respectively during the month.

Small-cap equity strategies, led by those investing in the tech sector had above average positive returns during February, as did convertible arbitrage and mortgage related strategies.

Strategies receiving above average investor interest in February included mortgage, merger arbitrage, credit arbitrage and event driven strategies. Long/short equity, multi-strategy, statistical arbitrage and distressed strategies appeared to have either lost assets, or had below average investor interest during the month.

Feb

YTD 2011

Emerging Market Benchmarks

HFN Brazil Index

0.59%

-1.45%

HFN China Index

-0.02%

-0.76%

HFN India Index

-1.41%

-10.57%

HFN Russia Index

1.06%

3.68%

HFN Latin America Index

0.44%

-1.24%

HFN MENA Index

-5.10%

-8.03%

Emerging Market Debt

0.78%

0.95%

Emerging Market Equity

-1.31%

-2.34%

HFN Emerging Markets Index

-0.67%

-1.46%

Broad and Developed Market Benchmarks

HFN Asia Index

0.80%

-0.17%

HFN Europe Index

0.63%

0.91%

HFN North America Index

1.86%

2.83%

HFN Australia Index

3.28%

2.23%

HFN US Index

1.84%

2.82%

Fixed Income Strategies

All Fixed Income Strategies

1.14%

2.30%

Corporate Bond Strategies

1.54%

3.14%

Government Bond Strategies

-0.95%

-0.58%

HFN Distressed Index

0.77%

2.32%

HFN Mortgages Index

1.8

4.51

HFN Fixed Income Arbitrage Index

1.36%

2.69%

Equity Strategies

All Equity Focused Strategies

1.32%

1.64%

HFN Long/Short Equity Index

1.61%

1.92%

HFN Market Neutral EQ Index

0.52%

0.56%

HFN Short Bias Index

-3.79%

-4.00%

HFN Energy Sector Index

1.68%

4

HFN Healthcare Sector Index

1.55%

4.49%

HFN Technology Sector Index

3.56%

7.71%

Financials Equity Strategies

2.66%

3.40%

Natural Resource Equity Strategies

4.78%

2.99%

Real Estate Equity Strategies

1.39%

1.11%

Commodity and Foreign Exchange Related Strategies

Foreign Exchange Strategies

0.41%

-1.86%

Financial Futures Strategies

0.45%

0.41%

Commodity (Non FX) Strategies

2.43%

1.79%

HFN CTA/Managed Futures Index

2.18%

1.57%

(Press release)

Source

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