Hedge Funds lost 0.64 per cent in March according to the Barclay Hedge Fund Index compiled by BarclayHedge, versus a 2.54 per cent decline in the S&P 500 Total Return Index. Year to date, the Barclay Index is down 0.07 per cent, while the S&P has lost 0.76 per cent.
“Driven by trade war fears, equity prices declined for a second month as the U.S. announced tariffs on steel and aluminium, which were quickly reciprocated by the release of China’s tariff hit list,” says Sol Waksman (pictured), founder and president of BarclayHedge.
All but three of Barclay’s 17 hedge fund indices lost ground in March. The Event Driven Index dropped 1.83 per cent, Pacific Rim Equities were down 1.14 per cent, and Equity Long Bias lost 1.11 per cent.
On the positive side, the Distressed Securities Index gained 0.70 per cent in March, Healthcare & Biotechnology was up 0.35 per cent, and the Equity Market Neutral Index rose 0.25 per cent.
After three months in 2018, ten hedge fund indices have gains, while seven have losses. The Technology Index is up 4.03 per cent, Healthcare & Biotechnology has a 3.73 per cent gain, Distressed Securities are up 2.05 per cent, and Emerging Markets have gained 1.24 per cent.
Pacific Rim Equities are down 2.00 per cent through March, the Event Driven Index has lost 1.53 per cent, and the Global Macro Index is down 1.39 per cent.
The Barclay Fund of Funds Index lost 0.37 per cent in March, while maintaining a year to date 0.33 per cent gain.
