Funds of hedge funds seem to be performing with cautious optimism. The InvestHedge fund of hedge fund median was up 0.79%, bringing the year to date returns to 0.98%, closely mirroring the global multi-strategy median that was up 0.89% for the month and 1.24% for the year.
The top performer in February was US equity up 1.41%, despite the events in Libya, taking the year to date returns to 2.35%. The S&P 500 was up 3.2%. Due to the increase in risk aversion, fixed income funds of funds also had a healthy month up