Hedge Funds Made Gains in January
Performance of hedge funds in January
Hedge funds made gains for the month of January, according to new data
from hedge fund data trackers. The CSFB/Tremont hedge fund index reported
that the average hedge fund gained 1.7% during the month of January. According
to the new released data, every hedge fund strategy followed by the index
was up in value during the month of January, with the exception of the
dedicated short bias strategy.
Hedge fund Index Reports
Another hedge fund index, The Van Global Hedge Fund Index gained 2.1%
net of fees in January according to figures released by Van Hedge Fund
Advisors International LLC. According to VAN, the return represents the
average January performance of over 800 hedge funds from around the world
comprising the index.
The Van U.S. Hedge Fund Index, which includes only U.S.-domiciled hedge
funds, returned 2.2% net for the month, while the Van Offshore Hedge Fund
Index, which includes those funds
based outside the U.S., rose 2.0% net. Final results for the January indices,
which will be based on larger samples of hedge funds, will be released
at the beginning of March.
Hedge Fund strategies
Details provided by the CSFB/ Tremont showed that the Emerging markets
returned 2.53%, leading other strategies for the month in net gains. Emerging
markets had an incredible gain in 2003, with an annual gain of 28.7%.
Other hedge fund strategies such as distressed securities and event-driven
strategy netted a gain of 2.42% and 2.16% respectively. Long /Short strategy
also made a gain of 2% in January, while multi-strategy, global macro
and convertible arbitrage funds also posted gains of 1.6%, 1.45% and 1.42%
respectively, according to CSFB/Tremont released data.
The management of both the CSFB/ Tremont index and Van Hedge Fund Advisors
added additional hedge funds to their data base upon which their hedge
fund indexes are constructed.
Paul Oranika
Editor-in Chief
Hedgeco.net
Email: Editor@hedgeco.net
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