Equities: Stagnant markets, stagnant returns

Sat Apr 1, 2006



After a heady start to the year, long/short equity strategies ran out of breath in February, producing flat or negative returns against the backdrop of equally horizontal performance for the benchmark indices.

The Absolute Return U.S. Equity Index barely budged - up 0.03% - bringing its year-to-date total to 3.22%. The Global Equity Index fared similarly, returning 0.05% in February for a total of 4.4%. Underscoring the high correlation between long/short funds and market beta, the S&P 500 advanced a none-too-staggering 0.27%, while the MSCI World Index slipped...

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