| Hedge Fund Observer: Hedge funds slightly up in February |
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| 19/03/2006 | |
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Hedge funds beat broad equity markets in February, according to the Hennessee Group. The Hennessee Hedge Fund Index rose +0.73%, while the S&P 500 trailed behind with a weak +0.27% return. Since the beginning of the year, the Hennessee HF index is up 4.25% and the S&P 500 2.93%. "Hedge funds continue to outperform the S&P 500 index, with healthcare, emerging markets, and technology leading the way", commented E. Lee Hennessee, managing principal of Hennessee Group LLC. "Most equity managers remain upbeat on the outlook for 2006," added Charles Gradante, managing principal of Hennessee Group LLC. "Equities are fairly valued and should grind higher in 2006, outpacing both bonds and cash, despite headwinds from a slowdown in the economy and earnings. The key concern among many managers is whether the Fed will overshoot tightening. Equity hedges have increased." Elsewhere, the Standard & Poor's Hedge Fund Index was up 0.8% and the Credit Suisse/Tremont Hedge Fund Index 0.34% in February. In January, the Credit Suisse/Tremont index increased by 3.23%. J.L. |
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