March 2011 Hedge Fund Performance Commentary Eurekahedge
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%.