Hedge Funds Rose 1.15% Last Month

Apr 8 2013 | 11:25am ET

Hedge funds closed out the first quarter the way they spent it: up, but trailing the broader markets.

Hedge Fund Research's HFRI Fund Weighted Composite Index rose 1.15% in March and 3.87% in the first quarter. By contrast, the Standard & Poor's 500 Index rose more than 10% in the year's first three months.

Returns were broadly positive across hedge fund strategies—with the notable exception of emerging markets funds. Excepting them, only two substrategies, short bias and energy and basic materials, were in the red last month, falling 2.39% (down 5.5% year-to-date) and 0.48% (down 0.23% YTD), respectively.

Yield alternatives funds did best in March, adding 3.66% (9.38% YTD). Technology and healthcare funds were up 2.93% (6.33% YTD) and multi-strategy relative-value funds 2.85% (5.2% YTD).

Relative value funds rose an average of 1.52% in March (3.75% YTD), equity hedge funds 1.45% (5.29% YTD), distressed and restructuring funds 1.34% (4.37% YTD), event-driven funds 1.02% (3.75% YTD), merger arbitrage funds 0.69% (0.88% YTD), equity market neutral funds 0.68% (2.62% YTD), convertible arbitrage funds 0.6% (2.34% YTD) and macro funds 0.54% (1.43% YTD).

Emerging markets funds fell, on average, 1.04% last month (up 2.39% YTD), but the returns were scattered. Asia ex-Japan funds rose 0.58% (up 4.85% YTD), but Russia and Eastern European funds lost 4.28% (down 0.72% YTD) and Latin American funds fell 1.96% (up 1.1% YTD).

Funds of hedge funds returned 1% on the month and are up 3.46% on the year.


In Depth

'Smart Beta' Funds In Regulators' Sights, Hedgies May Be Next

Mar 26 2015 | 11:11am ET

Funds that mimic strategies used by active managers for a fraction of the cost could...

Lifestyle

Study: Both Marriage and Divorce Lead to Negative Hedge Fund Performance

Mar 25 2015 | 6:51pm ET

Trouble at home leads to trouble in the market for fund managers, according to researchers...

Guest Contributor

The Life Settlement: Yield For The Investor And Cash For The Consumer

Mar 31 2015 | 6:48am ET

Investors are languishing in a yield-starved, low-interest rate environment, looking...

 

Sponsored Content

    Mar 9 2015 | 6:35am ET

    Kelly RodriquesKelly RodriquesAs more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…

Editor's Note