Performance

Fixed income: MKP rises

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Absolute Return's new Fixed Income Index got off to a modest start this year, rising 0.60% in January. Among the stronger performers were Patrick McMahon's MKP Opportunity Fund, which climbed 4.25%* for the month. VegaPlus's Nayan Capital Fund posted a strong return of 2.65%, making up for steep losses at the end of 2006. Some rather well-known names didn't fare as well. Just shy of the median return was Warren Mosler's III Fund, which returned 0.40%* in January. BlackRock Obsidian Onshore Fund continued its losing streak. The fund fell 0.75% in January after a loss of 1.93% in