Hedge funds as measured by the Greenwich Global Hedge Fund Index recouped January losses during the month of February to move almost even on the year. The GGHFI returned +0.68% compared to global equity returns in the S&P 500 Total Return +3.10%, MSCI World Equity +1.23%, and FTSE 100 +3.20% equity indices. 65% of constituent funds in the GGHFI ended the month with gains.