Hedge funds had a phenomenal month in February as the industry posted their strongest return since January 2012, according to the latest report from eVestment.
The Atlanta-based investment database and technology solutions firm’s February 2014 Hedge Fund Performance report indicates that hedge funds rose an average 2.3% last month, with activist strategies leading the pack with a return of 3.2% during the stated period. Activist strategies—which also dominated in January— returned a total of approximately 3.91% in 2014 so far.
Distressed funds posted their best return in more than two years, coming in at a close second with a 3.18% gain last month.
India-focused funds posted a whopping 8.39% for the period, while Africa and Middle East-focused funds brought in an even 5%. On the flipside, China and Japan funds—which were industry leaders in 2013-- saw negative performances, with -0.49% and -2.81%, respectively.
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.