Friday, 31 July 2015
Last updated 12 hours ago
Apr 4 2012 | 2:31am ET
Hedge funds inched down in March, capping off a positive but disappointing first quarter.
Hedge Fund Research's HFRX Global Hedge Fund Index lost 0.02% last month. The benchmark is up 3.14% on the year, but well behind the Standard & Poor's 500 Index, which rose in excess of 10% in the first quarter.
None of the strategies tracked by HFRX can claim that feat. The best of them, fundamental growth equity funds, are up an average of just 6.19% for the year's first three months after rising 0.18% in March.
Event-driven and distressed restructuring funds, are up 5.81% and 5.8%, respectively, for the year's first three months after rising 0.56% and 0.59%, respectively, in March.
Fundamental value equity funds were the month's best performer, rising 0.79% (2.31% year-to-date), trailed by distressed restructuring funds at 0.59% (5.8% YTD) and event-driven funds at 0.56% (5.81% YTD). Special situations funds rose 0.44% (4.97% YTD) and equity hedge funds 0.4% (3.94% YTD), followed by relative value arbitrage funds (0.27% in March, 3.56% YTD), merger arbitrage funds (0.21%, 1.71% YTD) and fundamental growth equity funds (0.18%, 6.19% YTD).
Three strategies suffered losses in March. Systematic diversified commodity trading advisors shed 2.36% (down 3.9% YTD), macro funds and CTAs 1.6% (down 1.29% YTD), and equity market neutral funds 1.21% (down 1.63% YTD).
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…