Long/short equity funds made a decent start out of the gate in January, but they lagged the broader equity markets as a whole. The Absolute Return U.S. Equity Index gained 0.90% for the month, while the Absolute Return Global Equity Index climbed 1.01%. Both lagged the Absolute Return Composite return of 1.12%.
Domestic long/short funds underperformed the broader stock market, as the S&P 500 Index gained 1.41%, producing a net total return of 1.48% for the month, while the Russell 2000 rose 1.67%. Global long/short equity funds fared somewhat better, besting the MSCI World Index (ex U.S.), which