Trend followers fall out of step in weak January

Light trading left firms chasing shadows

Monday 7 February 2005 at 16:00

Hedge funds failed to escape last year's difficulties in January, with managed futures firms losing money.

The global non-investable index covering the industry, published by Hedge Fund Research, a data provider, was down by 0.95% in January. Its managed futures index, focusing on funds that systematically follow trends, dropped 6.73%.