As stock markets sold off sharply and credit continued to
contract, U.S. hedge funds got caught in the market churn. The
Absolute Return Composite Index dropped 1.06% in January, its
third worst month on record, following a 2.56% decline in
August 1998 and a 1.1% drop in November 2007. Among individual
strategies, global equity and technology funds suffered the
most, down 4.2% and 4.04%, respectively.
ABSOLUTE RETURN STRATEGY INDICES