Hennessee Index Socked with Losses in January

Summary

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NEW YORK (HedgeWorld.com) - Whether you call it time or mean reversion, the Hennessee Hedge Fund Index's number came up in January, as tumbling equities and general malaise threw a wet blanket over global markets, sending the Hennessee index down 2.45%. Officials noted that it was the fourth-worst month in history for the index, following the Russian bond default in August 1998, the tech-stock meltdown in April 2000, and the default of WorldCom in July 2002.

The negative result was not a total surprise. In December the Hennessee index closed out an otherwise strong year with a gain of only 0.3%, as equity markets continued to slow and emerging markets' tremendous growth showed the first signs of flagging.

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Extract

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Hennessee Index Socked with Losses in January

As unpleasant as January was for Hennessee-tracked funds, equity market benchmarks had it worse. When the month was over, the Standard & Poor's 500 stock index was down 6.12%, the Dow Jones Industr...

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