Tuesday, 24 November 2015
Last updated 1 min ago
Apr 16 2009 | 1:23am ET
Hedge funds gained 2.41% in March according to the Barclay Hedge Fund Index, which is up 0.82% year-to-date.
“After an 8% sell-off in early March, the Standard & Poor’s 500 Index bounced back to gain 17% from March 9 to March 31, its largest 3-week rally since 1987,” Sol Waksman, founder and president of BarclayHedge, said.
Overall, 15 of Barclay’s 18 strategy indices gained ground in March. Emerging markets jumped 4.74%, equity long-bias gained 3.51%, technology rose 3.20%, Pacific Rim equities gained 2.65%, healthcare and biotechnology rose 2.36% and convertible arbitrage was up 2.25%.
“Emerging market funds did exceptionally well in March, driven by double-digit returns in the equity markets in Brazil, Russia, India and China,” Waksman said. “With the sudden upturn in equity markets, equity long-bias had its strongest one-month performance since gaining 4.72% in January of 2006.”
The Barclay Fund of Funds Index gained 0.23% in March, and is up 0.61% in 2009.
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