Hedge funds on the up and up

(HedgeCo.Net ): After a disappointing 2008, hedge funds seem to be on the up and up, advancing 1.10% in January according to the latest research by the New York-based Hennessee Group. The research reveals convertible arbitrage funds are leading the pack, advancing 5.79% in January with the Arbitrage/Event Driven Index advancing 2.36% as a whole.  Following suit was the long/short equity strategy, which was up .90% for the month.  Experts said this was due to profits made from shorting earnings, since only 55% of companies had met earnings expectations in January. Go to article