FOR IMMEDIATE RELEASE
Barclay Hedge Fund Index Down 0.29% in January;
Hedge Funds Start 2010 in the Red
FAIRFIELD, Iowa, February 16, 2010– Hedge funds lost 0.29% in January according to the Barclay Hedge Fund Index compiled by BarclayHedge.
“Equity investors expressed their disappointment with White House announcements that the administration would seek to curtail risky behavior of U.S. banks,” says Sol Waksman, founder and president of BarclayHedge.
“Stocks sold off after having rallied early in the month, with the S&P 500 dropping 3.60 percent in January. The sell-off in emerging markets was more pronounced,” says Waksman.
The Barclay Technology Index fell 2.74% in January, Equity Long Bias lost 1.68%, the Emerging Markets Index was down 1.19%, and Global Macro slid 0.85%.
On the positive side, Equity Short Bias gained 3.18% in January, the Distressed Securities Index was up 2.64%, Fixed Income Arbitrage rose 1.89%, and the Multi Strategy Index gained 1.22%.
“Growing expectations that the economic recovery will be weaker than previously assumed drove interest rates lower and rallied the bond markets. Strategies tied to interest rates benefitted from the move,” says Waksman.
The Barclay Fund of Funds Index lost 0.17% in January.
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