New York (HedgeCo.net) – Hedge funds recorded the seventh consecutive month of positive returns in January as the Eurekahedge Hedge Fund Index gained 0.06% amid mixed performances seen across regional and strategic mandates.
The industry attracted US$3.39 billion in net asset flows while performance-based growth was negative US$2.13 billion. Total assets under management increased by US$1.26 billion to reach US$1.68 trillion.
Highlights from the Eurekahedge report include:
- Assets under management in global hedge funds hit US$1.68 trillion – making them on track to cross US$1.7 trillion by quarter-end.
- While the Eurekahedge Hedge Fund Index was flat at 0.13%1 for January 2011, Japan and Korea both had strong months up 1.1% and 1.57% respectively.
- Distressed debt funds continue their strong up performance – gaining 1.37% in January.
- North American hedge funds witness 12 months of net positive asset flows – marking the longest continuous stretch of positive asset flows since 2004.
- Strong launch activity continued into 2011, with more than 30 funds launched in January.
- European hedge funds gained US$20.3 billion through net positive asset flows since July.
- 56% of hedge fund managers are above their high-water mark since December 2008.
The Dow Jones Credit Suisse Hedge Fund Index rose 0.69% in January, with six out of ten sectors posting positive performance for the month. Convertible Arbitrage was the best performing sector, finishing up 2.16%. Positive performance was also seen in the Event Driven sector, which finished up 1.80%, with all three of its sub-indices posting positive performance.” Oliver Schupp, President of Credit Suisse Index Co., LLC, said.
Editing by Alex Akesson
For HedgeCo.net
alex@hedgeco.net
HedgeCo.Net is a premier hedge fund database and community for qualified and accredited investors only. Membership in HedgeCo.net is FREE and EASY. We also offer FREE LISTINGS for Hedge Funds!
