The composite S&P Hedge Fund Index was up 0.88% in February. The positive monthly return brought the Index’s fledgling 2004 year-to-date return to 2.01%, according to data released by Standard & Poor’s.
All three components of the aggregate also turned in positive performances in February. Leading the way was the 1.93% return of the S&P Directional/Tactical Index, which is now up 2.73% year-to-date. This was followed by a 0.63% February return in the Event-Driven Index and a 0.08% monthly gain recorded by the Arbitrage Index. Year-to-date the two indexes are up 2.09% and 1.22%, respectively.
Even though it was in positive territory, the composite index still lagged the S&P 500’s 1.73% February gain. For the year now, the S&P 500 has returned 2.97%.
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