Third Point, Greenlight Gain In March

Apr 3 2013 | 11:53am ET

Third Point is one of the few hedge funds that have been able to keep up with the rallying stock market this year, and punctuated its first quarter with a strong March.

The New York-based hedge fund's flagship Offshore Fund returned 2.8% last month and is up 9.2% on the year, the firm told investors Thursday. The more highly-levered Third Point Ultra rose 4.2% on the month and is up 13.3% on the year, Reuters reports.

That’s a rare feat for hedge funds in 2013: topping the Standard & Poor's 500 Index, which was up over 3% in March and 10% in the first quarter.

Greenlight Capital also reported March gains which bested most peers, but not Third Point. New York-based Greenlight returned 2.3% on the month and is up 6.1% on the year.

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