Investable Hedge Funds Up 1.5% In March

Apr 27 2010 | 1:29pm ET

Investable hedge funds reversed their early-year slump in March, posting strong enough returns to pull the average fund back into the black, according to Greenwich Alternative Investments.

The Greenwich Investable Index rose 1.52% for funds with monthly liquidity and 1.46% for funds with quarterly liquidity, the firm said. The former is up 1.45% on the year and the latter 1.51%.

Despite March’s broad-based returns—all strategy indices were up for the month, and all are up year-to-date—the Greenwich investable indices badly lagged most hedge fund indices, which returned about 3% last month, as well as the broader markets. The Standard & Poor’s 500 Index soared nearly 6% in March.

“The majority of hedge funds moved higher in March, albeit at a measured pace,” Clint Binkley, senior vice president at Greenwich AI, said. “Net exposures of long/short equity fund reflect a cautious optimism regarding near-term market sentiment.”

Among strategies, futures funds did the best, rising an average of 3.03% in March (1.95% year-to-date). Event-driven funds followed at 2.44% (5.61%). Long/short equity and credit funds also did well, with returns of 1.63% (1.44% YTD) and 1.61% (3.3% YTD), respectively.


In Depth

Q&A: TCA Fund Management's Bob Press on Small-Cap Private Equity

Aug 25 2016 | 8:55pm ET

The emergence of private credit as a replacement for traditional bank financing...

Lifestyle

Kiawah: Island Reversal

Aug 24 2016 | 9:59pm ET

Looking for real estate investments but the typical real estate fare isn’t cutting...

Guest Contributor

Old Hill Partners: Embrace Illiquidity

Aug 9 2016 | 2:39pm ET

The age-old financial concept that higher yields are the result of higher risk and...