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In February, global financial markets gained despite continued geopolitical risk, with gains driven by Technology equities and investors positioning for stronger economic growth in 2024. Technology – specifically AI and Cryptocurrency – led equity market gains for the month, while Japan, China, Italy, and Germany led regional gains. Interest rates increased across all maturities, led by shorter-dated bonds, while the US Dollar gained against most currencies. Natural Gas, Sugar, and Platinum led Commodity declines.
The HFRU Hedge Fund Composite Index posted a gain of +0.76% in February.

HFRU Macro Index gained +1.14%
HFRU Equity Hedge Index posted a gain of +1.07%
HFRU Event Driven Index gained +0.31%
HFRU Relative Value Index declined -0.41%

Comments reference performance as reported on February 29, 2024.