Hedge funds are often pitched to prospective clients as an asset class that can beat the markets or a specific benchmark like the S&P 500.
However, hedge funds have been failing to deliver in recent periods.
The January 2013 performance figures for the DJ Credit Suisse Hedge Fund Index are out. And as you'll see in the table below, every single major category of hedge fund lagged the S&P 500, which climbed 5 percent in January.
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