Hedge Funds post Mixed Results; Third Point, Tremblant Partners & Pershing Square among Winners
|March 22nd, 2010||
|Hennessee Group has released its most recent hedge fund index results, revealing that the “global equity markets were mixed in February, with the U.S. experiencing gains and most international markets posting small losses.” The Hennessee Hedge Fund Index, an average of all the funds in the advisor’s Indices, gained +0.96% last month, and Managing Principal Lee Hennessee commented that “hedge funds are outperforming stocks thus far in 2010.”|
The Hennessee Long/Short Equity Index outperformed other indices with a gain of +1.48% in February, though the company predicts that “long/short equity managers will remain cautious and selective due to the uncertainty surrounding the strength of the economic recovery and growing concern that sovereign default risks could become a global problem.” The Arbitrage/Event-Driven advanced less, with +0.76%. Although distressed debt funds “suffered during the beginning of the month as credit spreads widened,” the Distressed Index also advanced +0.76% after bouncing back near the end of the month.
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