As first quarter nears close, funds are doing their job


After a bleak 2008, hedge funds are off to a decent start to the New Year.

Through February, hedge funds were up a median 0.8% for the year, according to the Absolute Return Composite Index, far outperforming the broader market, which fell 18.5% during this year’s first two months, as measured by the S&P 500 index. That’s a good sign for an industry hoping to stave off further redemption requests.

Strong performers in February include Chase Coleman’s long/short equity strategy, Tiger Global, which gained 6.2% for the month to total 17% for the year so far. Level Global Investors’