Hedge funds recorded a solid performance in the first month of 2004, according to preliminary data released last week by Van Global Hedge Fund Advisors.
"Hedge funds kicked off 2004 in a solid fashion, continuing the strong performance they showed in 2003," commented George Van, Chairman of the hedge fund advisory firm. "Well over 80% of the funds we have heard from so far were profitable in January. It looks as if some of last year's best performing strategies, such as Aggressive Growth, Emerging Markets, Distressed Securities and Value, are continuing to produce the best results this year," he added.
Hedge fund growth in January was broadly comparable to that of the main US stock markets, with the benchmark Van Global Hedge Fund Index recording a 2.3% gain last month. This compares to 1.8% growth in the S&P 500, and a 3.2% rise in the Nasdaq Composite Index.
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