Hedge funds eked out a positive return in January, with CTAs on top, according to alternatives data provider Preqin.
The Preqin All-Strategies Hedge Fund benchmark picked up just seven basis points, following a challenging year in 2014.
For the 12 months to January, the benchmark was up 4.2%.
In an otherwise weak performance month, commodity trading advisors continued to ride the wave of solid returns they recorded in 2014, posting a 3.1% return in January and a 12-month rolling return of 14.7%.
Systematic CTAs were up 3.8%, dollar-denominated CTAs up 3.6%, euro-denominated ones up 2.1% and discretionary CTAs up 0.9%.
Hedge fund strategies posted these returns in January:
- Macro +0.8%
- Relative value +0.4%
- Multi-strategy +0.4%
- Credit +0.1%
- Equity -0.1%
- Event-driven strategies -1.1%
Funds of hedge funds reported their third consecutive winning month in January, up 0.4%, their first three-month run of positive returns since December 2013, according to Preqin.
Emerging markets funds lost 1.2% in January, their fifth consecutive monthly loss. These funds were down 3% over the previous six months, but still ahead by 3.5% for the year to January.
— Check out When Hedge Funds Get Hacked on ThinkAdvisor.
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