Greenwich: Hedge Funds Edge Down In March

Apr 11 2011 | 2:33pm ET

Hedge funds posted widely disparate returns in March, with the average fund suffering a small drop, according to Greenwich Alternative Investments.

The Greenwich Global Hedge Fund Index shed 0.1% last month, leaving it up 1.4% on the year. Returns for its various strategy and substrategy indices varied widely, from a 1.5% surge to a 1.8% decline. But most strategies gained or lost less than 1% on the month.

Market-neutral funds, generally, did best; so-called "other" arbitrage, excluding convertible and fixed-income, clocked a 1.5% return (1.5% year-to-date) and distressed securities rose 1.2% (4.9% YTD). Arbitrage funds generally added 0.7%, while event-driven and equity-market neutral funds rose 0.5% each (3.2% and 1.1% YTD, respectively).

Long/short equity funds and special strategies funds each returned an average of 0.4% (2.1% and 2% YTD, respectively). Directional trading strategies, however, took a beating, losing an average of 1.5% (down 1% YTD), with futures funds dropped 1.8% (down 1% YTD) and macro funds 0.8% (down 0.6% YTD).


In Depth

Royalties: The Alternative Assets of the Music Industry

Jul 8 2016 | 7:01pm ET

Recent market volatility has investors seeking greater insight into alternative...

Lifestyle

Vortic: Making Great American Watches Again

Jul 25 2016 | 6:29pm ET

If you are compelled by stories of entrepreneurial vision & drive, or simply...

Guest Contributor

MPI: Like Stellar Returns? Better Understand the Risks First

Jul 22 2016 | 8:44pm ET

When the press reports extraordinarily strong relative or risk-adjusted returns...