HFR: Hedge Funds Flat In March

Apr 7 2009 | 2:43am ET

Hedge fund returns were essentially flat last month, with the average fund shedding 0.03%, Hedge Fund Research reports.

The decline is the second in as many months for the HFRX Global Hedge Fund Index. Still, the average hedge fund remains up 0.68%, thanks entirely to a strong January: The global index fell 0.38% in February.

Distressed securities funds were the worst performers in March, dropping 2.72% (down 5.16% year-to-date). Systematic diversified funds also lost substantial ground, falling 2.35% (down 2.23% YTD) to wipe out its year-to-date gains, as did macro funds (down 1.98% in March, down 0.62% YTD).

Still, despite the losses—11 out of the 18 strategies tracked by the HFRX indices were in the red last month—the majority of individual strategies have maintained positive returns this year: Just six are down in 2009.

On the positive side, fundamental value funds jumped 2.4% (0.83% YTD), followed by equity hedge funds, which added 2.21% (0.76% YTD). Market directional funds rose 1.52% (3.44% YTD), convertible arbitrage funds 1.16% (9.43% YTD) and merger arbitrage funds 0.93% (1.69% YTD).


In Depth

MiFID2 For U.S. Firms: Key Questions Answered

Feb 27 2017 | 4:54pm ET

The January 2018 deadline for implementation of the EU’s mammoth MiFID2 regulations...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

iCapital Network: The Trump Effect On Direct Lending

Feb 23 2017 | 4:21pm ET

The arrival of the Trump Administration has raised questions among private debt...

 

From the current issue of