The Dow Jones Credit Suisse Core Hedge Fund Index closed up 1.61 per cent in January as each of the seven index component strategies reported positive results for the month.

Managed futures and event driven led the way with returns of 2.14 per cent and 2.05 per cent respectively, while global macro (1.10 per cent) and fixed income arbitrage (1.23 per cent) were the worst performers.

The Dow Jones Credit Suisse Core Hedge Fund Index provides daily published index values which seek to enable investors to track the impact of market events on the hedge fund industry.