New York (HedgeCo.net) – The Hennessee Hedge Fund Index advanced +0.30% in March (+2.50% YTD), while the S&P 500 declined -0.10% (+5.43% YTD).
“March was challenging as markets initially sold off sharply on escalating conflicts in the Middle East and tragic events in Japan . However, markets were able to rally back during the last couple weeks to finish the month roughly unchanged,” Charles Gradante, Co-Founder of Hennessee Group, said. “Many hedge funds were “whipsawed” as they became more defensive mid-month as risks increased, which resulted in less participation during the late month rebound.”
The Dow Jones Industrial Average increased +0.76% (+6.41% YTD), and the NASDAQ Composite Index fell -0.04% (+4.83% YTD). Bonds advanced, as the Barclays Aggregate Bond Index increased +0.06% (+0.43% YTD) and the Barclays High Yield Credit Bond Index advanced +0.32% (+3.88% YTD). The full performance press release will be distributed Monday, April 11.
Editing by Alex Akesson
For HedgeCo.net
alex@hedgeco.net
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