Hedge Fund Reader : Flat February for Hedge funds

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March 14, 2006

Flat February for Hedge funds

There has been a lull after the storm in the hedge funds sector. As after the strong results reported by the hedge funds in January 2006, the sector report flat results for February 2006. The flat performance was attributed to pompous month for the equity markets. It was reported that most of the major hedge fund indices gave average returns of between zero and one percent, with Chicago-based hedge fund tracker Hedge Fund Research showing a gain of 0.35 percent for the month. The S&P 500 finished February up just 0.05 percent. CNN reports:

Some of the larger long/short equity funds posted big gains, such as Mark Kingdon's M. Kingdon Offshore fund, which returned 2.1 percent in February and is up 4.9 percent this year. Noted value investor David Einhorn's Greenlight Capital Offshore fund gained 2.4 percent in February, bringing it up to 4.5 percent for the year. But most managers struggled to post gains in what was a tough month for the broader markets as a whole. Art Samberg's Pequot International fund was down about a percent but is still up about 6.2 percent on the year following a strong January.

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March 14, 2006 in Research | Permalink