Greenwich Publishes January Results

by Mike Godfrey, Tax-News.com, Washington

12 February 2008

It has been reportd that the Greenwich Global Hedge Fund Index (GGHFI) fell -2.44% in January amid severe declines in global equity markets, with the S&P 500, MSCI World Equity, and FTSE 100 indices also falling by -6.0%, -7.71%, and -8.94%, respectively.

During January, 79% of hedge funds outperformed the S&P 500, according to Greenwich, with 33% ending the month in positive territory.

"Despite January being hedge funds' weakest month since July 2002, hedge funds fell far less than equities," noted Margaret Gilbert, Greenwich Managing Director.

She continued: "This 'downside protection' is particularly apparent over the last twelve months with hedge funds returning +7.14%, or outperformance of +9.45% over the S&P 500 which fell -2.31% during this period."

For January, all four of Greenwich's hedge-fund strategy groups outperformed the S&P 500.

The Directional Trading Group ended up +0.81%, with positive performance driven by futures managers returns of +2.13% for the month.

Dedicated short sellers were the stellar performers, up +6.99%. Long-biased equity strategies sustained widespread losses with the Long-Short Equity Group down -3.75% in January.

The Specialty Strategy Group ended the month down -4.28%, largely attributable to emerging managers losing -6.16%.

The Market Neutral Group declined by -1.23%. The January Index currently includes 1,011 constituent funds.

Final January results will be posted in early March, once additional funds have submitted returns.

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