Reuters – Hedge funds delivered only tiny gains in February after starting the year off with strong returns in January, according to data released on Wednesday.
During the second month of the year, when the broader market was mostly flat, the average hedge fund inched up 0.35 percent, data from Chicago-based Hedge Fund Research show.
In January, these slightly regulated investments funds that jointly manage about $1.1 trillion got a boost from a generally stronger stock market and gained and 3.65 percent.
This leaves hedge funds up 3.80 percent during the first two months of the year, HFR data show. In December hedge funds rose 1.6 percent while they were up 9.2 percent in 2005.
“February was a fairly flat month coming on the heels of a spectacular January,” Joshua Rosenberg, president of HFR said.
Funds specializing in emerging markets again delivered the biggest gains with those concentrating on eastern European securities returning 3.46 percent in February.
