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Australian hedge funds positive but subdued in February

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Australian hedge funds rose by an estimated 0.18 per cent February with 29 per cent of results in, but there are clear signs that many managers took risk off the table following the Australian equity market’s sharp loss of over six per cent in January.

Australian Fund Monitors says that as a result there has been disappointment in some of the more risk averse managers’ returns, and with reporting season in full swing during the month, some were also caught on the wrong side of any surprises in company outlook or earnings.

Choppy markets are notoriously difficult for absolute return and hedge funds, which focus on active equity and trading strategies, even if they have a relatively long term outlook.

Equity based funds rose 0.16 per cent in February, while non-equity based funds were up 0.22 per cent.

The ASX 200 rose 1.49 per cent in February and the S&P 500 2.85 per cent.

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