Following an outstanding January (2.8%), which was the best opening to a year since 2006 according to the Eurekahedge Hedge Fund Index, global hedge funds struggled in
February, ending down 0.5%. However, the S&P 500 was down 2.6% and the Dow Jones was down 4.2% in February, illustrating that hedge funds were still successful in navigating
the ongoing global economic turmoil. Returns were subdued across strategies in February with distressed debt (0.8%) leading the field.