That followed a late 2002 decline (See Hedge Funds Saw Small December Drop ). According to the Index, the average hedge fund earned 0.2% net in 2002, its fifteenth consecutive winning year.
According to Van Hedge Fund Advisors International, Inc. (VAN), the Van Global Hedge Fund Index indicates that hedge funds generated profits last month despite further declines among the major stock market benchmarks. That was the third time in the last twelve months that hedge funds have done so, the company said.
The S&P 500, NASDAQ and Dow Jones Industrial Average lost 2.6%, 1.1% and 3.3% in January, VAN said. The Van Global Hedge Fund Index tracks performance of the hedge fund universe dating back to 1988.