HFRX: Hedge Funds Drop 0.88% In March

Apr 6 2011 | 11:39am ET

Hedge funds certainly went out like a lamb in March, posting their first down month of the year to close out the third quarter, according to one industry index.

The average hedge fund lost 0.88% last month, according to Hedge Fund Research's HFRX Global Hedge Fund index, cutting its year-to-date return to just 0.4% amidst broad-based losses for hedge fund strategies.

Fundamental value hedge funds had a particularly bad month, dropping 4.48% (down 4.3% year-to-date). March was no picnic for equity hedge or systematic diversified funds, either; they lost an average of 3.13% (down 3.07% YTD) and 1.59% (down 3.49% YTD), respectively.

Multi-region funds fell 1.34% on the month (up 0.84% YTD), market directional funds 1.27% (up 0.64% YTD) and fundamental growth funds 0.54% (up 0.79% YTD).

Only six of the 18 HFRX strategy indices were in the black in March, led by equity-market neutral funds, up 1.55% (2.81% YTD). Special situations funds added an average of 0.42% (3.26% YTD), macro funds 0.38% (1.47% YTD), event-driven funds 0.18% (2.41% YTD), and absolute return and convertible arbitrage funds 0.01% each (0.5% and 3.39% YTD, respectively).


In Depth

Q&A: SkyBridge’s Anthony Scaramucci Readies For Wall Street Week Debut

Apr 16 2015 | 12:56pm ET

Anthony Scaramucci, founder and managing director of asset management firm SkyBridge...

Lifestyle

Puerto Rico Woos The Rich But So Far Gains Little

Apr 17 2015 | 2:45am ET

Hedge fund manager Rob Rill grins. He has just had word that U.S. financial regulators...

Guest Contributor

Minnesota Supreme Court Rejects The Ponzi Scheme Presumption: Lenders Claw Back Some Of Their Own Rights

Apr 17 2015 | 9:23am ET

A recent court ruling in Minnesota has put an end to the Ponzi Scheme Presumption...

 

Editor's Note