The Herschel Absolute Return Fund posted a small loss of -0.68% in February, and is down -2.13% in 2009.
During February the Fund remained heavily weighted towards defensive large cap stocks with strong balance sheets, a strategy which is popular with many managers at the moment due to the ongoing economic uncertainty and bad news flooding the market. The only sector to provide a positive return was Energy (+2.7%), offset by heavy losses in Industrials (-21.2%), Property Trusts (-16.2%) and Utilities (-10%).
