Hedge funds start the year flattish
The Absolute Return Composite was just about flat in January, with five strategies posting gains greater than 1%. The best-performing strategy was distressed, which gained a median 2.32%. Mortgage-backeds, which returned a median of 1.92%, came in second, followed by fixed income. It rose 1.25% to come in third, followed by credit, up 1.15%, and multistrategy, with a 1.07% gain.
U.S. equity and commodities tied to be the biggest losers of the month. Both were down 1.73%. CTAs continued to struggle. After barely breaking even in 2009, they posted a 1.60% loss for the month. Arbitrage strategies rose, but less than 1%.
TOP TEN PERFORMERS OF JANUARY 2010
BRAND NAMES TOP TEN PERFORMERS OF JANUARY