Hennessee Shows Hedge Funds Up 1.74% In March

Apr 9 2013 | 12:31pm ET

Hedge funds gained 1.74% in March, trailing the S&P 500 which advanced 3.75%, according to the latest numbers from the Hennessee Group.

“Hedge funds were positive in March as long positions performed well. The markets remain in ‘risk-on’ mode,” said Charles Gradante, co-founder of Hennessee Group, in a statement. “The start of 2013 is reminiscent of last year.  Managers are cautious as the second quarter has been a challenging period for investing in the last couple of years.” 

Equity long/short funds added 2.37% in March, putting them up 5.88% year to date. The best-performing sectors were healthcare (up 6.24% on the month), utilities (up 5.13%) and consumer discretionary (up 4.76%).
 
Arbitrage and event-driven funds were up 1.55% in March (and 3.62% YTD). Distressed funds advanced 1.47% on the month (3.79% YTD). Merger arbitrage funds gained 1.27% in March (2.53% YTD) while convertible arbitrage funds gained 0.53% on the month (1.69% YTD).

Global macro funds added 0.50% on the month (4.24% YTD) but emerging markets funds slipped 0.13% on the month (and are down 2.37% YTD). Macro funds advanced 0.30% in March (and 2.26% YTD).
 


In Depth

Why Ponzi Schemes Work: An In-Depth Look At The Allen Stanford Fraud

Dec 21 2014 | 10:30am ET

Texan Allen Stanford first appeared on the radars of financial regulators in 1997...

Lifestyle

Hedgie Funds US Squash Program

Dec 24 2014 | 8:46am ET

Squash, anyone?

Guest Contributor

EidoSearch’s Top Three Market Projections For 2015

Dec 23 2014 | 4:03am ET

It is that time of year again when prognosticators make their big market calls for...

 

Sponsored Content

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

December 2014 Cover

Futures 2014 person of the year

Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.