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Barclay Hedge Fund Index down 0.29 per cent in January

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Hedge funds lost 0.29 per cent in January, according to the Barclay Hedge Fund Index compiled by BarclayHedge.

Stocks sold off after having rallied early in the month, with the S&P 500 dropping 3.60 per cent in Januar.

The Barclay Technology Index fell 2.74 per cent in January, equity long bias lost 1.68 per cent, the Emerging Markets Index was down 1.19 per cent, and global macro slid 0.85 per cent.

“Equity investors expressed their disappointment with White House announcements that the administration would seek to curtail risky behaviour of US banks,” says Sol Waksman, founder and president of BarclayHedge.

On the positive side, equity short bias gained 3.18 per cent in January, the Distressed Securities Index was up 2.64 per cent, fixed income arbitrage rose 1.89 per cent, and the Multi Strategy Index gained 1.22 per cent.

“Growing expectations that the economic recovery will be weaker than previously assumed drove interest rates lower and rallied the bond markets. Strategies tied to interest rates benefited from the move,” says Waksman.

The Barclay Fund of Funds Index lost 0.17 per cent in January.

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