Managed futures gained 3.04% and global macro strategies returned 1.7% in January, according to eVestment’s monthly hedge fund performance report.
The strategies benefitted from the return of volatility to global financial markets in January against the backdrop of quantitative easing in Europe, the Swiss National Bank’s decision to unpeg its currency and elections in Greece.
The VIX rose 9.2% during the month, spiking as much as 22% in the wake of the Swiss National Bank’s move to unpeg its currency to the euro.
Aggregate hedge fund performance for the month, according to the firm’s database, was -0.03%, outperforming the S&P 500 by 297 basis points, but trailing the Barclays U.S. Aggregate index by 213 basis points.