Optimistic March For Pessimistic Hedge Fund Index

Apr 12 2010 | 9:42am ET

Even the best month for the hedge fund industry can be put into a bad light by the Lyxor Hedge Fund Index. But even that most pessimistic of benchmarks posted strong returns in March, rising 2.12%.

Long-term commodity trading advisers enjoyed the best month, rising 4.84%. Long/short credit arbitrage wasn’t far behind at 3.85%.

Fixed-income arbitrage also did well, adding 2.73%, as did special situations, jumping 2.7%. The 10 largest hedge funds in the Lyxor index returned an average of 2.24%.

Given the March market rally—the Standard & Poor’s 500 Index returned nearly 6%—it’s no surprise to see equity short-bias the month’s biggest loser, falling 6.58% to increase its year-to-date loss to 9.57%.


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