The HFRI Fund Weighted Composite Index gained 2.7 per cent in March, the highest gain since September 2009.
For the quarter the index gained 2.56 per cent.
Equity hedge funds posted the strongest gains across four main strategies, with a gain of 3.53 per cent, the strongest since May 2009. Gains were broad based across nearly all sub-strategies and were strongest in growth and quantitative equity.
Event driven continued its strong performance with its 13th consecutive positive month, gaining 2.96 per cent. With the benefit of improving credit markets and liquidity, event driven is the top performing strategy YTD, gaining 4.36 per cent with contributions from activist and distressed strategies.
Relative value funds posted a gain of 1.1 per cent, the 15th consecutive monthly gain.
Macro funds recovered early year losses to post a gain of 2.2 per cent, with strength from systematic trend following and commodity oriented exposure. Prior to March, macro funds had declined by 1.72 per cent YTD with early year losses in currency and metals exposures.
Regionally, emerging markets funds gained 5.24 per cent; with strong gains in funds focused on Russia/Eastern Europe and Middle East; the volatile HFRI Russia/Eastern Europe Index gained 10.2 per cent in March.
