FOR IMMEDIATE RELEASE
Barclay Hedge Fund Index Up 0.42% in February;
Hedge Funds Record Nine Straight Months of Gains
FAIRFIELD, Iowa, March 12, 2013 – Hedge funds gained 0.42% in February, according to the Barclay Hedge Fund Index compiled by BarclayHedge. The Index is up 2.92% year to date. February is the ninth consecutive month of positive performance.
“Equity managers were able to report profits in spite of quite a few bumps in the road,” says Sol Waksman, founder and president of BarclayHedge.
“European managers largely avoided downdrafts in Italian and Portuguese equities and Asian managers side-stepped potential losses in Hong Kong and India.”
Overall, 16 of Barclay’s 18 hedge fund strategies had gains in February. The Barclay Pacific Rim Equities Index was up 2.12%, European Equities added 0.92%, the Event Driven Index was up 0.83%, Equity Long Bias gained 0.74%, Distressed Securities gained 0.71%, and Merger Arbitrage rose 0.68%.
“Distressed Securities managers benefitted from a tightening of US corporate and high yield credit spreads,” says Waksman.
“An increase in the dollar value of M&A activity during the month provided trading opportunities for Merger Arbitrage and Event Driven funds.”
The Barclay Fund of Funds Index gained 0.17% in February.
On the losing side, the Global Macro Index was down 0.30% in February, and the Technology Index slipped 0.05%. The Equity Short Bias Index has lost 6.34% year to date.
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