News Digest: Did February bring good tidings for hedge funds?
March 28, 2023
We’re not sure how good the tidings are, but hedge funds saw another shift in performance with some strategies resulting in a recovery and others creating new challenges. Overall weighted average return for hedge funds in the Citco group stood at 0.1% in February with an year-to-date yield of 3.62%.
Amongst all the funds managed by Citco, only 46% were in green with event-driven being the best performing strategy with a weighted average of 3.3%. Equities came close behind with a weighted average return of 0.5%, says a news report.
On the flip side, the two worst-performing strategies for February were multi-strategy and commodities, both finishing in the red with weighted average returns of -0.8% and -0.7% respectively. On a similar basis, fixed-income arbitrage and global macro funds generated small returns of 0.2% and 0.1% respectively.