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Bailey McCann, Opalesque New York:

The latest report from hedge fund administrator Citco shows that hedge funds maintained positive performance through the month of February.

Funds administered by Citco delivered an overall weighted average return of 2% in February, to give them a year to date weighted average return of 3.5%.

71.8% of funds achieved a positive return overall in February, up from 64.5% the previous month. Equity funds were the standout performers with a weighted average return of 3.4% in February, almost double the 1.8% seen in January. Next were Multi-Strategy funds at 1.3%, followed by Fixed Income Arbitrage funds at 0.9%.

Commodity and global macro funds had a more challenging month but still managed to post positive returns at 0.3% and 0.2% respectively. Event driven funds posted their second consecutive month of negative returns down -1.1% for February.

On a fund size basis, all AUA categories had a positive February. Funds with between $500 million-$1 billion of AUA saw the strongest performance with a weighted average return of 2.4%, followed by the largest funds with more than $3 billion of AUA at 2.1%. Multi-Strategy funds saw the most activity in February, with net inflows of $1.7 billion driven by $4.4 billion of subscriptions which outweighed redemptions. Equities had the highest net outflows at $0.4 billion, down from $0.7 billion in January.

Flows into hedge funds are flat to positive. Funds with between $1-$5 billion of AU......................

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