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Alternative Market Briefing

Hedge funds post banner performance in February - eVestment

Tuesday, March 10, 2015

Bailey McCann, Opalesque New York:

Hedge fund returns increased in February, with the industry posting a positive 1.93% return for the month, according to the latest hedge fund monitor data from eVestment. This represents the best monthly performance for hedge funds since February of last year. According to the data, the primary driver of returns last month were the rising equity markets and new records for the S&P500.

All hedge major strategies had positive returns, erasing the slow January start in terms of losses posted in that month.

In a slight surprise managed futures funds performance was down slightly, albeit still positive – posting returns of 0.12%. This makes for the groups fourth consecutive positive month, although the nearly flat returns highlight the relative strength in the US and lower volatility/macroeconomic uncertainty. Global macro funds were also positive at 0.76%, faring slightly better than managed futures programs.

Activist funds led all of the hedge fund strategies in posting the largest gains of 5.37%. This erased January’s negative performance of 3.61%, with a little extra. The report notes that increased valuations were likely driven by high equity valuations.

Credit strategies also saw an end to five consecutive monthly losses with February performance topping out at 1.32%. According to the report, the recently announced European bond buying program is likely to have bolstered February performance to the cohort as investors saw t......................

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