Majority of UCITS flat or up in early March

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More than 70% of alternative UCITS funds have reported flat or positive performance for the week ending 2 March 2012, according to the Absolute UCITS database.

The median performance of the 200 single manager UCITS funds gained 0.31% during the reporting period. The continued positive weekly performance of the sector is reflected by the Absolute UCITS Single Manager Index, which finished February up 3% for the year-to-date.

The top performing fund during the latest week was the DNB ECO Absolute Return fund, with a return of 3.37%.

The fund is managed by Norway-based Jon Sigurdsen, and was launched