GLOBAL - Emerging markets came up trumps again in January, posting a positive 2.8% return, according to the CSFB/Tremont Hedge Fund Index.
Emerging markets outperformed all other sectors for the third consecutive month, despite dipping 2% on December 2001.
Overall, the index posted a 0.5% rise for the month as traditional global indices languished in negative territory.
Global macro strategies also returned 2.6%, continuing stellar performance from last year. The sector posted the highest total returns for 2001 at just under 20%.
The ability to short, a trademark strategy of hedge funds, is an increasingly desirable risk management tool as world markets once again proved disappointing for long-only investors, said the firm.
Performance for the CSFB/Tremont Hedge Fund Index and the nine style-based sector indices are calculated monthly.
By Madhu Kalia
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