Hedge Funds Up 2% In March

Apr 12 2010 | 1:31pm ET

Hedge funds feasted on March’s market rally, soaring more than 2% on the month, according to early estimates from the Credit Suisse Index Co.

The Credit Suisse/Tremont Hedge Fund Index returned approximately 2.09% last month, based on 70% of the index’s constituents reporting. All but one of Credit Suisse’s 13 strategies and sub-strategies were in the black in March, leaving the overall index up 2.96% on the year.

Managed futures funds enjoyed the strongest performance in March, rising 4.84% (2.67% year-to-date). Emerging markets funds added 3.62% (2.37% YTD) and distressed funds rose 3.52% (5.92% YTD). Only short bias funds fell—as the Standard & Poor’s 500 Index rose 5.88%—losing 6.21% on the month (down 8.97% YTD).

Event-driven funds returned 3.36% (5.29% YTD), multi-strategy event-driven funds 3.3% (4.82% YTD) and long/short equity funds 3.04% (2.83% YTD). Convertible arbitrage funds rose 2.2% (3.68% YTD), fixed-income arbitrage funds 1.34% (3.46% YTD), multi-strategy funds 1.03% (2.16% YTD), equity market-neutral funds 0.57% (down 0.69% YTD) and risk arbitrage funds 0.47% (1.17% YTD).


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