Hedge funds gained 2.53 per cent in March, its best month since January 2012 when it rose 3.10 per cent, according to the Barclay Hedge Fund Index. The Index is down 0.88 per cent after three months in 2016.
“Rebounding oil prices and dovish central bank policy and statements helped propel mid-February’s equity and high yield rally into March,” says Sol Waksman (pictured), founder and president of BarclayHedge.
Overall, 15 of Barclay’s 18 hedge fund indices were profitable in March. The Emerging Markets Index led the way with its 5.06 per cent gain, Event Driven rose 3.58 per cent, Equity Long Bias increased 3.51 per cent, and the Technology Index was up 3.19 per cent.
On the negative side, the Equity Short Bias Index lost 4.35 per cent in March, European Equities dropped 0.94 per cent and Global Macro declined 0.30 per cent.
After three months in 2016, all but four indices continue in the loss column. The Healthcare and Biotechnology Index has dropped 10.46 per cent, the European Equities Index is down 5.47 per cent, Equity Long Bias has lost 2.48 per cent, and Pacific Rim Equities have declined 2.35 per cent.
The Barclay Fund of Funds Index gained 0.54 per cent in March, and has lost 3.21 per cent year to date.
