Hedge Funds Deliver Broad-Based Gains
Thursday, March 10, 2011
Hedge funds as measured by the Greenwich Global Hedge Fund Index (GGHFI) gained
across every major strategy in February, Greenwich Alternative Investments announced
on March 8.
The GGHFI gained 1.28% compared to global equity returns in the S&P 500
Total Return, the MSCI World Equity and the FTSE 100 equity indices of 3.43%, 3.33% and 2.24%, respectively.
75% of constituent funds in the GGHFI ended the month with gains.
“Hedge funds were led by directional strategies in February given the
rise in equities and surging commodity prices,” notes Clint Binkley, Senior
Vice President. “Tension in the Middle East is being overshadowed by strong
corporate earnings and continued economic recovery which is reflected in the
results of funds investing in developed markets.”
According to the report, Long-Short Equity funds gained 1.19% and increased
net exposure last month, while Futures funds rebounded 1.89% to lead Directional
Strategies. Distressed Securities funds led all hedge fund strategies in February
and year-to-date however, gaining 2.08% last month and 4.16% YTD.
Developed Market funds outpaced Emerging Market managers by nearly 2% on average.
Developed Markets Composite returned 1.44% in February and is up 1.82% year-to-date.
North America leads the Developed Markets segment, gaining 2.53% in February
and more than 3.5% year-to-date. By contrast, Emerging Markets Composite
lost 0.55% last month, and is down by 1.06% year-to-date. Asian strategies have
suffered the greatest losses in the Emerging Markets segment, returning -1.30%
last month and -3.31% year-to-date.
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