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“It is important to understand that the market dynamics of investing in certain geographic regions can have as great an impact on performance as investment strategy itself,” said Clint Binkley , Senior Vice President. “Investors are well served by measuring and examining the differences in performance on both a strategic and geographic basis.”

In the first month of the index calculation, hedge funds concentrating on European markets were the best performing managers in developed regions, followed by North America and Asia, with returns of -0.12%, -0.81%, and -1.48%, respectively. Funds investing on a global basis lost -1.20% on average.

Emerging Market hedge funds showed mixed results in January, as funds investing in Europe were also the best performers. Funds trading in Eastern Europe and Russian markets advanced strongly in January as emerging market Europe funds on average gained +4.33%.

Latin American and South American funds were the worst performers due primarily to a steep drop in Brazilian equities in January. Asian emerging market funds closely followed, losing -2.72%, as fears of a slowing Chinese recovery impacted equity prices on the Hang Seng and Shanghai bourses.

Final Regional index results for January will be available late-February, once additional funds have submitted returns. Full performance table: Source