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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 HFRI-I Liquid Alternative UCITS Index posted a gain of +1.28% in February.

HFRI-I Macro Index gained +1.75%
HFRI-I Equity Hedge Index gained +1.74%
HFRI-I Event Driven Index gained +0.39%
HFRI-I Relative Value Index gained +0.35%

Comments reference performance as of February 29, 2024