Macro strategies led hedge fund gains in February

graph up downHedge funds outperformed US equities for the third consecutive month in February, figures show.

The HFRI Fund Weighted Composite Index advanced +0.5% for the month, with gains led by macro, quantitative, and trend-following commodity trading adviser, or ‘CTA’, strategies.

February was the strongest monthly gain for the composite index since October 2015 – though performance was still in the negative at -2%.

However, this loss still saw the index lead equity benchmarks across US, Europe, Asia and emerging markets, said HFR, the provider of the benchmark.

February performance was led by macro strategies as equities, fixed income, commodities and currencies traded in wide intra-month ranges. The HFRI Macro Index posted a gain of 1.9%.

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