Hedge fund performance is off to a bad start in 2014, according to the most recent report from eVestment.
Data from the Atlanta-based investment database and technology solutions firm’s January 2014 Hedge Fund Performance report concluded that hedge funds fell an average of -0.56% last month. Despite the decline, volatility strategies—which performed poorly last year—returned 1.61% in January.
Healthcare-focused funds continue to outperform other sectors last month, posting a 7.38% return for the period; it returned 29.96% in 2013 and 13.71% in the last three months. Energy hedge funds came in second with 2.57% while on the flip side, technology funds had average negative returns of -0.05% for the same period.
Credit strategies experienced its second negative month in the last six, while directional equity strategies also declined in January.
Founded in 2000, eVestment acquired hedge fund analysis provider Pertrac and cloud-based hedge fund technology provider Fundspire last year. It now offers one of the world’s largest traditional and alternative investment databases.