The UCITS HFS Index lost 0.71% in the third week of January but is still up 0.03% month to date (by business day 15, January 21st, 2010).

Out of the eleven sub-strategies only Arbitrage was able to add returns to its January performance, although +0.06% will not qualify as remarkable. The biggest losers were Global Macro (-1.05%), Multi Strategy (-0.89%) and L/S Equity (-0.88%). Although having lost -0.23% in the third week of trading, Convertible looks to be the most promising strategy in 2011 with gains of 1.32% in January so far. CTA on the other hand has lost -0.72% after the first three weeks into the year and seems to take a similar bad start as in 2010.