Hedge fund index gained 11.15% in '07

The Greenwich Global Hedge Fund Index returned 0.61% in December and gained 11.15% in 2007, beating out the major benchmarks. The Dow Jones Industrial Average, Nasdaq Composite Index and Standard & Poor's 500 Index fell in December by 0.8%, 0.3% and 0.9%, respectively. Each of Greenwich's four hedge fund strategies was in positive territory for December. The Macro and Futures, Long-Short Equity and Market Neutral Strategy Groups strategy group rose 1.22%, 0.71% and 0.15%, respectively in December. The Specialty Strategies Group increased 0.51% in December, largely due to strong performance among emerging markets funds, which rose 0.92% during the month. In other hedge fund reports released this month, The Hedge Fund Research Inc. Fund Weighted Composite Index advanced 0.68%, while The Hennessee Hedge Fund Index gained 0.3% (InvestmentNews, Jan. 9) . For 2007, the indexes increased 10.4% and 11.6%, respectively.