Hedge funds see broad-based gains in February

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February’s volatility led to broad-based gains by U.S. hedge funds, with only one of the 16 strategies tracked by Absolute Return falling into negative territory, according to preliminary estimates.

The Absolute Return Composite Index charted a median return of 0.62%, putting its year-to-date gain at 1.75%, early estimates indicate. This February’s return exceeds that of last year, when hedge funds rose 0.47% for the month.

Credit, with a net gain of 1.56%, was the best performing strategy last month. That’s a change from the past two years, when the top February returns came from Latin America. In February 2006,