NEW YORK (HedgeWorld.com)–Hedge funds returned 1.03% in February and year-to-date through February returned 2.83%, according to the Standard & Poor’s Hedge Fund Index.
The monthly index returns were driven by strong performance from the S&P Arbitrage Index and the S&P Directional/Tactical Index, both of which returned 1.5% during the period. The Arbitrage index was up 2.49% in January and February, while the directional/tactical index returned 3.82% in that same period.
The third sub-index, the S&P Event Driven Index, returned 0.1% in February and is up 2.17% year-to-date through February. Meanwhile, the S&P 500 stock index returned negative 1.5% in February, while for the year through February it was down 4.4%.