Driven by a performance of 5.37% in the activist spectrum, the global hedge fund industry posted positive aggregate returns of 1.93% in the month – the highest figure for 12 months.
Full discretionary funds delivered returns of 1.2% against -0.01% in systematic approaches, while global macro vehicles hit 0.76%.
Credit strategies ended a five-month streak of losses – which featured the worst drawdown since the financial crisis – with a performance rise of 1.32%.
The emerging market space returned a variety of February results, with Russia-focused funds delivering a 21.69% increase, having reported -42.45% in 2014.
However, Brazil hedge funds dropped 1.59%, having yielded -6.27% overall in 2015 year-to-date and following on from two consecutive years of negative annual performance.
Emerging markets as a whole returned 1.65%, while developed markets posted performance of 2.62%.
In the sub-sectors, energy exposure proved most beneficial at 3.69% in February – at the other end of the table was securitised credit, which yielded 0.77% in the same period.
