Hennessee Says Hedge Funds Post Slight Gains In March

Apr 7 2011 | 11:22am ET

Hedge funds outstripped the S&P 500 during a volatile March, gaining 0.3% according to the Hennessee Group hedge fund advisor.

Japan’s nuclear crisis and upheaval in the Middle East triggered broad selloffs in March, but a rally at month’s end resulted in most of the losses being recouped.

"Many hedge funds were 'whipsawed' as they became more defensive mid-month as risks increased, which resulted in less participation during the late month rebound," Hennessee co-founder Charles Gradante told the Wall Street Journal.

The S&P 500 slipped 0.1%, while the Dow Jones Industrial Average gained 0.76%. The Nasdaq Composite Index edged down 0.04% in March.

The Barclays Aggregate Bond Index rose 0.06% and Barclays High Yield Credit Bond Index added 0.32%.

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