Introduction

Hedge funds were up for the eighth consecutive month in February amid healthy upward movement in most markets. The Eurekahedge Hedge Fund Index gained 1.09%¹ during the month, bringing its year-to-date return figure to 1.27%. Market sentiment was buoyant through most of the month, leading to rallies in underlying markets – the MSCI World Index was up 2.75% in February.

Among the regional mandates, the best performance was delivered by Japanese hedge funds, gaining 2.62% in February. Japanese hedge funds investing in financial and insurance stocks, as well as material and mining companies, posted healthy gains – the Nikkei 225 was up 3.77% during the month. Returns from European hedge funds were also positive in February, up 0.55%, while Eastern Europe & Russia-investing funds gained 1.22%. Asia ex-Japan hedge funds witnessed losses to the tune of 1.32% amid declines in underlying markets – the MSCI Asia Pacific ex Japan Index was down 2.36%.

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