Lyxor, Canadian Indices Show Mixed March

Apr 17 2009 | 9:55am ET

Another set of hedge fund indices show that investors would have been better off with a stock index mutual fund last month.

The Lyxor Global Hedge Fund Index dropped 0.38% in March, one of the few hedge fund indices to actually lose ground on the month. In the first quarter, the index rose 0.42%.

Most hedge fund indices posted a return in excess of 1% last month.

Unsurprisingly, hedge funds going long last month had the best time of things, although they still failed to match the equities rally. Long-bias funds returned 4.3%, Lyxor said.

Up north, Canadian hedge funds failed to catch the rally wave, as well. The Scotia Capital Canadian Hedge Fund Performance Index rose just 1.39% in March, while the S&P TSX Composite Index soared 7.4%. Year-to-date, Canadian hedge funds are up 5.62%.

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