Hedge funds fell in February, giving back January's gains and reversing two straight months of small advances as the stock markets continued to swoon, according to data from the hedge fund adviser Hennessee Group LLC.

Another indicator of the funds' performance, the Credit Suisse/Tremont Hedge Fund Index, was down 0.5% with 59% of assets reporting and was likely to show a decline when all assets have reported.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.