New York (HedgeCo.net) – After a slow start to the year, hedge funds showed their strength in March, witnessing robust positive results across all regions and strategies. The composite Eurekahedge Hedge Fund Index advanced 2.54 amid significant movements in most underlying asset classes, bringing the YTD figure to 2.16%. The MSCI World Index increased 5.93% in March and was up 2.74% YTD.
- Initial reports indicate positive net asset flows for March and US$16 billion net inflows for February.
- Distressed debt hedge funds climbed 7.35% YTD with 12 months of consecutive positive returns, gaining 49.08% over this period.
- All regional and strategic indices reported positive returns both for March and for the year.
All strategic indices were positive for March, with riskier assets delivering the best returns. Net long exposures to equity markets were profitable, with the S&P 500 returning 5.9% while the FTSE and DAX were up 6.1% and 93.9%, respectively. The Eurekahedge Long/Short Equities Hedge Fund Index gained 3.04% in the month.
Distressed debt managers were the best performers in March as they continued their winning streak to 12 straight months by gaining 49.08% on average over this time period. The Eurekahedge Distressed Debt Hedge Fund Index was up 4.27% in March, bringing the YTD figure to 7.35%. Managers employing this strategy have delivered exceptional performance recently, profiting from the continuing rally in the sector – the Merrill Lynch High Yield Index was up 4.99% YTD.
Editing by Alex Akesson
For HedgeCo.net
alex@hedgeco.net
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