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
*readjusted...