WEST PALM BEACH, FL (HEDGECO.NET) – Hedge funds made gains for the month of January, according to new data from hedge fund data trackers. The CSFB/Tremont hedge fund index reported that the averagehedge fund gained 1.7% during the month of January. According to the new released data, every hedge fund strategy followed by the index was up in value during the month of January, with the exceptionof the dedicated short bias strategy.
Another hedge fund index, The Van Global Hedge Fund Index gained 2.1% net of fees in January according to figures released by Van Hedge Fund Advisors International LLC. According to VAN, the return represents the average January performance of over 800 hedge funds from around the world comprising the index.
The Van U.S. Hedge Fund Index, which includes only U.S.-domiciled hedge funds, returned 2.2% net for the month, while the Van Offshore Hedge Fund Index, which includes those funds based outside the U.S., rose 2.0% net. Final results for the January indices, which will be based on larger samples of hedge funds, will be released at the beginning of March.
Details provided by the CSFB/ Tremont showed that the Emerging markets returned 2.53%, leading other strategies for the month in net gains. Emerging markets had an incredible gain in 2003, with an annual gain of 28.7%. Other strategies such as distressed securities and event-driven strategy netted a gain of 2.42% and 2.16% respectively. Long /Short strategy also made a gain of 2% in January, while multi-strategy, global macro and convertible arbitrage also posted gains of 1.6%, 1.45% and 1.42% respectively, according to CSFB/Tremont released data.
The management of both the CSFB/ Tremont index and Van Hedge Fund Advisors added additional hedge funds to their data base upon which their hedge fund indexes are constructed.
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: Editor@hedgeco.net
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