Hedge Fund March 2011
Hedge Funds Post Gains in March, Lag S&P on the Year
Hedge fund managers eked out tiny gains in March and are up for the year, according to data released on Thursday but the asset class again lagged the broader stock market.
The average hedge fund inched up 0.31 percent in March and is now up 1.99 percent for the year, data from Hedge Fund Research show. The broader Standard & Poor's 500 stock index ended the first three months up 5.43 percent even though it slipped 0.10 percent last month.
In the first two months of 2011, hedge funds climbed 2.08 percent, lagging the Standard & Poor's 5.53 percent rise.
Technology and healthcare-oriented funds were some of the strongest gains, inching up 0.85 in March, HFR reported. But funds that concentrate on energy and basic materials lost 2 percent, and so-called macro funds that make bets on currencies and interest rates slipped 1.71 percent, the HFR numbers showed. Source