Eureka: Hedge Funds Up 2.54% In March As All Strats. Rise

Apr 13 2010 | 8:58am ET

Hedge funds rallied in March to erase their early-year losses, with all strategies and regions participating in the black-ink party.

The average hedge fund rose 2.54% last month, according to the Eurekahedge Hedge Fund Index. On the year, hedge funds are up an average of 2.16%, far behind the broader markets, with the Standard & Poor’s 500 Index up 4.87% on the year after a 5.88% jump in March.

All strategies and regions tracked by Eurekahedge posted gains last month, and all are up year-to-date, none more so than distressed debt. Those funds returned an average of 4.27% last month and are up 7.35% through the first quarter. Distressed debt funds have soared 49.08% over the past 12 months.

Long/short equity funds also did well, returned 3.04%.

Eureka also reports that initial reports point towards another month of net inflows for the hedge fund industry.

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