WEST PALM BEACH, FL (HEDGECO.NET) – Standard and Poors has released its latest hedge fund index numbers for the month of February 2004. According to the released data, the SPHG Hedge fund indexgained an average of 0.88% during the month of February bringing its year-to-date average to 2.01%.
Other details showed that Arbitrage index gained a scant 0.08%, for the month, representing the smallest gain among other indexes for January. On the other hand event driven index was the second best performer for January with a net gain of 0.63% bringing its year-to-date average to 2.09%.
Managed futures strategy was the best performing index for February, with a gain of 8.23%, bringing its year-to-date average to 9.92%; by contrast, the S&P 500 index gained 1.73% during the same month of January, with a year-to-date average of 2.97%.
Standard & Poor�s offers a growing family of hedge fund indices. The main S&P Hedge Fund Index offers an investable benchmark that is representative of the broad range of major strategies that hedge funds employ. The index has 40 constituents divided into three sub-indices: S&P Arbitrage, S&P Event-Driven and S&P Directional/Tactical, which in turn represent a total of nine specific strategies.
These strategies include: Equity Market Neutral, Fixed Income Arbitrage, Convertible Arbitrage, Merger Arbitrage, Distressed, Special Situations, Long/Short Equity, Managed Futures and Macro. The strategies are equally weighted to ensure well-rounded representation of hedge fund investment approaches and to avoid overrepresentation of currently popular strategies, according to S&P statements.
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: Editor@Hedgeco.net
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