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Eurekahedge Hedge Fund Indices

Hedge Fund Monthly
 
 
February 2011 Hedge Fund Performance Commentary
Eurekahedge
Feb 2011
 

Introduction

Hedge funds were up for the seventh consecutive month in January, posting a marginal result of 0.06%1  for the month. Price movements in global markets were erratic in a month marked by various themes including improving economic fundaments in the US, political instability in the Middle East and rising inflationary pressure. The MSCI World Index was up 1.87% in January.

Japanese hedge funds delivered the best performance among the main hedge fund regions, gaining 1.26% in January. Managers leveraged on the better-than-expected earnings, corporate activity and a strong yen to outperform the Nikkei 225, which was up 0.09% during the month. Returns from other developed economies were also positive, with the Eurekahedge North American Hedge Fund Index gaining 0.75% while European hedge funds were up 0.24%. Stronger outlook on the US economy, as well as easing concerns on the European debt situation, drove up the regional markets – the S&P 500 climbed 2.26% while the MSCI Europe Index gained 1.83% during the month.

Returns from emerging markets hedge funds were mixed as Latin American hedge funds witnessed marginal losses of 0.10% while Asia ex-Japan funds were down 1.20% in January. The regional market indices also ended the month in negative territory. The MSCI EM Latin America Index was down 4.17% while the MSCI AC Asia Pacific Ex Japan Index lost 0.59%. Notable among emerging market hedge funds were managers investing in Eastern Europe & Russia, who gained 2.20% during the month. Eastern Europe & Russia mandate hedge funds capitalised on the rallies in underlying markets as the MSCI EM Eastern Europe Index was up 1.52% while the Russia AK&M Composite Index finished the month with an excellent gain of 5.68%.

December 2010 and January 2011 returns

The relatively modest returns across the regions came after a period of strong performance by hedge funds at the end of 2010. The Eurekahedge Hedge Fund Index was up...

 

The full article is available in The Eurekahedge Report accessible to paying subscribers only.

 

Subscribers may continue to login as usual to download the full report and non-subscribers may email database@eurekahedge.com to enquire on how to obtain the full research report.

 

Footnote

1 Based on 54.19% of funds reporting the January 2011 returns as of 14 February 2011.

 
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