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Hennesse Hedge Fund Index up 2.46 per cent in Feb

The Hennessee Hedge Fund Index was up 2.46 per cent in February, trailing both the S&P500, which rose 4.31 per cent, and the Nasdaq Composite Index, which increased 4.98 per cent during the month.

Healthcare and biotech was the top performing strategy for the month the index with a return of 4.14 per cent followed by distressed (3.72 per cent) and international (3.29 per cent).
 
The worst performers meanwhile were short-biased (-2.34 per cent), market neutral (-0.02 per cent) and convertible arbitrage (0.19 per cent).
 
“Risk assets reversed course again in February as volatility, measured by the VIX, subsided and market enthusiasm was restored,” says Charles Gradante, co-founder of Hennessee Group. “Investors stepped back into the market after January’s selloff and shrugged off disappointing European PMI data, a continued decrease in bank lending and emerging market tensions.”


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