Hedge Funds February 2010

Preliminary Hedge Fund Data for February 2010

Global hedge funds managed to post modest gains in February 2010.  A large trend, as reported last week, was betting against the Euro while largely avoiding stocks.  Early data for last month shows that the average hedge fund increased 0.34%.  The mild gains may help offset a disappointing January and weak returns in the end of 2009.

Hedge funds are not required to release their returns and so any indication of performance is closely followed. Later this week several other firms that track performance and flows are expected to release their numbers.

“Overall, hedge funds are still cautious on equities, but appear to have returned to commodities,” the analysts wrote, adding that hedge funds continue to buy energy and metals during the last week of February while also adding to “their bearish position on the Euro.”

The euro has lost roughly 5.25 percent against the dollar this year. According to the Wall Street Journal, managers at Soros Fund Management, SAC Capital Advisors and Greenlight Capital were betting against the euro.

Already during the fourth quarter George Soros’s hedge fund more than doubled its bet on the price of gold.  Source

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