Despite heightened patches of political and economic instability around the globe in the first couple of months of 2011, many hedge funds of various strategies found ways to thrive, according to figures from Morningstar.

The Morningstar 1000 Hedge Fund Index, a composite of the largest hedge funds in the Chicago-based research firm’s database, rose 1.5% in February. Also for the month, the currency-hedged Morningstar MSCI Hedge Fund Index grew 1.2%.

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