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Barclay Hedge Fund Index gains +0.78% in February, back in the black after January losses (+0.42% YTD)

Monday, March 15, 2010
Opalesque Industry Updates - Hedge funds gained 0.78% in February according to the Barclay Hedge Fund Index compiled by BarclayHedge. Hedge funds are up 0.42% year-to-date, after gaining 23.74% in 2009.

“Hedge funds bounced back in February, more than making up for their 0.34 percent loss in January,” says Sol Waksman, founder and president of BarclayHedge.

“While US and Asian equity markets gained ground in February, European-linked assets underperformed due to concerns about sovereign debt default in Greece and fears of possible contagion impacting the weaker European Union members.”

Overall, 15 of Barclay’s 18 hedge fund indices had a positive return in February. The Barclay Technology Index was up 2.30%, Equity Long Bias was up 1.66%, Healthcare and Biotechnology gained 1.25%, and the Event Driven Index rose 0.98%.

The Barclay Distressed Securities Index is up 3.19% in the first two months of 2010. Distressed Securities gained 30.89% in 2009.

“Bond prices moved higher following Bernanke’s mid-month congressional testimony where he reiterated the Fed’s commitment to maintain low interest rates for an ‘extended period’ of time,” says Waksman. “Rising bond prices typically provide a favorable environment for Distressed Securities.”

On the losing side, Equity Short Bias was down 2.02% in February, European Equities lost 0.62%, and Pacific Rim Equities slipped 0.09%.

The Barclay Fund of Funds Index gained 0.17% in February.

Full performance table available: Source


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