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Komfie Manalo, Opalesque Asia:

Hedge funds started 2018 with a bang as the industry continued its surge, turning in their strongest January performance since 1997, despite volatility building into the month-end from equity, currency and fixed income markets, said data provider Hedge Fund Research.

The industry extended its winning streak of consecutive monthly gains to 15 with the HFRI Fund Weighted Composite Index gaining +2.8% last month, the strongest monthly return since December 2010 and the best January return since 2006. The gain also lifted the record Index Value to 14,465.

"After a historic year in 2017, hedge funds began 2018 extending strong gains, even as realized and implied volatility associated with global equities, currencies (including cryptocurrencies), commodities, fixed income and the outlook for global inflation all increased," stated Kenneth J. Heinz, president of HFR.

Macro funds lead performers, blockchains hit by volatility

While all main strategies advanced for the month, industry performance was led by macro strategies, with the HFRI Macro (Total) Index climbing 3.7%, the best monthly gain since February 2008. Macro sub-strategy performance was led by quantitative, trend-following CTA strategies, with the HFRI Macro: Systematic Diversified Index vaulting 4.8%, the strongest return since October 2008. Fundamental macro also advance......................

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