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FAIRFIELD, Iowa, April 14, 2010– Hedge funds gained 3.08% in March according to the Barclay Hedge Fund Index compiled by BarclayHedge.
“Global stock indices reached new highs for the year as economic data continued to suggest that a recovery is underway,” says Sol Waksman, founder and president of BarclayHedge.
“On average, Emerging Market equity indices gained 8.04 percent in March, and Developed Market indices gained 6.29 percent.”
All but one of Barclay’s 18 hedge fund indices had a positive return in March. The Barclay Healthcare & Biotechnology Index soared 5.15%, Emerging Markets jumped 5.23%, Equity Long Bias was up 4.03%, Distressed Securities gained 3.79%, Technology was up 3.85%, and Pacific Rim Equities gained 3.84%.
“Nearly 87 percent of the funds reporting their March return to BarclayHedge have recorded a profit for the month,” says Waksman.
At the end of the first quarter, the Barclay Distressed Securities Index is up 6.70%, Healthcare & Biotechnology has gained 6.27%, Pacific Rim Equities are up 4.18%, Emerging Markets have gained 4.06%, and Fixed Income Arbitrage is up 3.91%.
“Money has been chasing performance, and investment inflows into hedge funds have been rising,” says Waksman.
“TrimTabs Investment Research reported that the hedge fund industry posted an estimated inflow of $16.6 billion in February.”
Equity Short Bias was the one losing hedge fund strategy in March, dropping 6.22%, and is now down 6.13% for the year.
“In a broadly based rising equity market like we had in March, short sellers are faced with very limited trading opportunities,” says Waksman.
The Barclay Fund of Funds Index gained 1.73% in March, and is up 1.41% year to date.
The Barclay Hedge Fund Index has gained 3.43% in the first quarter of 2010.
Click here to view five years of Barclay Hedge Fund Index data, or download 13 years of monthly data.
Sol Waksman is an experienced media source, providing perspectives on hedge fund and managed futures trends. For more commentary or background, call 641-472-3456 or email swaksman@barclayhedge.com.
BarclayHedge was founded in 1985 and actively tracks more than 5,800 hedge funds, funds of hedge funds, and managed futures programs. Barclay has created and regularly updates 18 proprietary hedge fund indices and eight managed futures indices.
Institutional investors, brokerage firms and private banks worldwide utilize BarclayHedge indices as performance benchmarks for the hedge fund and managed futures industries.
