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From Komfie Manalo, Opalesque Asia:

The hedge fund industry rebounded strongly this year as all indices posted almost 3% gains in January, reflecting the positive mood in the industry in 2012.

The Greenwich Global Hedge Fund Index returned 2.31% last month compared to global equity returns in the S&P 500 Total Return (+4.48%), MSCI World Equity (+4.93%), and FTSE 100 (+1.96%) equity indices during the same period. Long-Short Equity funds strategy led the hedge fund rally last month. 77% of constituent funds in the GGHFI ended the month with gains.

Noted Greenwich Senior Vice President Clint Binkley said: "U.S. equities rallied significantly to begin 2012 and Long Short managers are the best performers thus far. Hedge funds focused on Market Neutral strategies were also surprisingly strong as both Arbitrage and Event-Driven managers posted their best results in months. Despite investors being drawn into risk-on sectors of the market, most funds remain cautious with the economic situation in Europe still unresolved,"

Amongst the hedge fund strategy highlights in January according to Greenwich includes:

• Long Short Equity funds lead all other strategies, gaining 3.91%, led by growth funds
• Event Driven funds also up sharply, advancing 2.71% on strength in distressed funds
• Futures and Macro funds lag other strategie......................

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