HedgeCo.net – The Greenwich Global Hedge Fund Index, one of the world’s largest hedge fund databases, reported returns of +0.87% in March, closely followed by the Greenwich Investable Index returning+0.86%.

84% of the 1,025 hedge funds reporting thus far had positive returns. 16 out of 18 index strategies outperformed the S&P 500, the two exceptions being Futures and Short Selling, which togetherrepresent 10% of the Global Index. Market Neutral strategies were positive for the 17th consecutive month.

Event-Driven managers capitalized on M&A strength, returning +1.18% in March. Long-Short Equity strategies captured the upside across global equity markets, yielding +1.26%. It proved to be adifficult month for Futures managers, who were unable to recover from volatility early in the month, to end down -1.64%.

The Greenwich Investable Index has continued to achieve its investment objective of closely tracking the Global hedge fund Index, posting year-to-date returns of +2.62%–within nine basis points ofthe Global Index year-date +2.71%.

Both Greenwich Indices have outperformed market benchmarks year-to-date. The S&P 500, MSCI World Equity, FTSE 100, and Lehman Brothers Aggregate Bond indices posted March returns of +1.12%(+0.64% Q1), +1.59% (+2.06% Q1), +2.21% (+1.40% Q1), and 0.00% (+1.50% Q1), respectively.

The Greenwich Investable Index, comprising 51 funds, adds investability, active management and liquidity to the broad Greenwich Global Hedge Fund Index. Unlike other investable indices, it referencesactual hedge funds as opposed to separately managed accounts that merely attempt to replicate the returns of hedge fund vehicles. Since inception January 2003, the Investable Index posted anannualized return of +10.70% versus +11.64% for the Global Index. The Investable Index is reported monthly net of a 0.04% Index calculation fee.

Alex Akesson
Contributing Writer
HedgeCo.Net
Email: Editor@hedgeco.net