Performance

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Long/short equities escape broader decline.

Long/short equities escape broader decline.

Long/short equity funds were doing what they do best in February - preserving capital. The Absolute Return U.S. Equity Index lost a mere 1.32% for the month, for a decline of 0.95% for the year through February.

The Absolute Return Global Equities Index lost 1.3% in February, for a year-to-date loss of 1%. By comparison, the broader equity market declined by double digits in 2009's first two months. The S&P 500 Index gave up 10.99% in February (for a year-to-date loss of 18.6%) and the MSCI World lost 10.24% that month (for a year-to-date