The new year got off to a running start in January as U.S. hedge funds reported strong gains across the board.
Every strategy tracked by Absolute Return turned in a positive performance for the month, with the composite index rising a median 2.23%, according to preliminary data. That's the second biggest monthly number in the five years that the Absolute Return database tracks.
Global equity led all strategies, up 4.65%, as stocks rose broadly around the world, particularly in Europe and the emerging markets of Brazil, Argentina, Russia and Korea. By comparison, the benchmark MSCI World Index gained