HFRX: Hedge Funds Up 0.86% In March, 3.27% In Q1

Apr 16 2013 | 1:15pm ET

Hedge funds rose last month amidst a market rally that left the Standard & Poor's 500 Index up more than 10% in the first quarter, according to data from Hedge Fund Research.

The HFRX Aggregate Index wasn't quite so lucky, closing out the first quarter up 3.27% after a 0.86% rise in March. Master-limited partnerships continued to lead the way, rising 4.8% on the month and 15.39% on the year. Technology and healthcare funds rose an average of 3.49% on the month (6.46% year-to-date), energy infrastructure funds 2.79% (9.08% YTD), yield alternative funds 2.48% (6.37% YTD), real estate funds 2.15% (3.67% YTD) and activist funds 2.1% (4.85% YTD).

Event-driven funds added 1.42% on the month (5.32% YTD), equity hedge funds 1.24% (5.14% YTD), convertible arbitrage funds 1.23% (3.69% YTD), quantitative direction funds 1.06% (2.88% YTD), credit funds 0.97% (3.05% YTD), merger arbitrage funds 0.38% (0.91% YTD), relative value arbitrage funds 0.07% (1.68% YTD), and macro funds and commodity trading advisers 0.03% (0.04% YTD).

March losers included short-bias funds (down 0.93% on the month, down 2.65% YTD), currency funds (down 0.82%, up 0.14% YTD), energy funds (down 0.51%, down 1.51% YTD), commodity funds (down 0.33%, up 0.84% YTD), systematic diversified CTAs (down 0.25%, down 0.84% YTD) and equity market-neutral funds (down 0.02%, up 0.55% YTD).


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Editor's Note