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From Precy Dumlao, Opalesque Asia:

The Credit Suisse/Tremont Hedge Fund Index gained 0.17% in January despite market corrections. The MSCI World Index was down 4.19% and the DJ-UBS Total Return Commodities Index posted -7.28%, while the CBOE VIX Volatility Index rose 13.6% from its December month-end level to 24.6 with an intra-month surge of 50%.

In its latest monthly commentary, Credit Suisse/Tremont offers insight into January's hedge fund performance.

Credit Suisse commentaries by strategy

Fixed Income Arbitrage best performing strategy The Fixed Income Arbitrage strategy was the best performer last month as managers found a number of opportunities in the credit markets. The High Yield bond market posted positive returns for the 11th consecutive month with the BofA Merrill Lynch High Yield Constrained Index posting 1.53% in January. New issue supply was a record $20.1bn in 48 new issues, beating the previous record of $16.8bn in 2001.

The Credit Suisse/Tremont Fixed Income Arbitrage Index ended January up 2.02% as the top performing strategy.

Caution with L/S strategy paid off Long/Short Equity strategy finished January -1.70% (19.47% In '09) as the caution taken by most managers paid off. Although L/S equity was on the negative territory on an absolute basis, ......................

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