Hedge funds up in February

The PivotalPath Hedge Fund Composite Index gained 0.3% in February, once again significantly outperforming key traditional equity benchmarks. The S&P 500 and Nasdaq declined 3.0% and 3.4%, respectively, during the month. Year-to-date the PivotalPath Composite is down 0.9% versus the S&P down 8.0% and Nasdaq down 12.1%. The Composite’s 12-month beta to the S&P through February was 0.16.