Hedge Funds Remain Flat In March

Apr 17 2012 | 8:23am ET

Hedge funds were flat in March, slipping 0.02%, according to Hedge Fund Research’s HFRX Global Hedge Fund Index, for a year-to-date gain of 3.14%.

Among the best-performing equity strategies were technology/healthcare funds, up 1.58% for the month (6.14% year to date); and fundamental value funds, up 0.79% for the month (and 2.31% YTD).

In the event-driven category, the best performers were credit arbitrage strategies, up 0.96% in March (and 3.90% YTD); and multi-strategy, up 0.72% for the month (and 2.98% YTD). In the macro category, commodity: energy funds generated the biggest returns, up 5.50% for March and 7.48% YTD.

The strongest relative value strategy in March was fixed income-asset backed, up 1.56% for the month and 6.63% YTD.

On the flip side, the worst-performers in the equity category were short bias funds, down 2.68% for the month (and down 13.16% YTD); and energy/basic materials funds, down 2.39% for March (and 0.42% YTD).

The only negative event-driven strategy in March was activist, which lost 0.39% for the month but is up 10.84% YTD. The worst-performing macro strategy was commodity: metals, down 8.05% on the month (and 2.23% YTD). Energy infrastructure funds were the worst-performing relative value strategy, down 1.31% in March but up 1.89% YTD.

 


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