Hedge Funds Rose 0.6% in January Even as Broader Market Fell
- Event-driven funds were the best-performers with a 2.1% gain
- Broader market roiled by Covid-19, retail-driven short squeeze
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Hedge funds gained in January even as the markets were roiled by spikes in global Covid-19 cases and a retail-driven short squeeze.
The industry rose 0.6% last month, according to preliminary figures from the Bloomberg Hedge Fund Indices. Event-driven funds were the biggest winners, with a 2.1% advance. Macro funds were the worst-performing strategy, declining 0.8%.