Hedge Funds March 2011

Hedge Funds March 2011

Hedge Fund Had Challenging March 2011

The mid-month market losses contributed to a tough March for hedge funds.  Initial estimates for hedge fund indexes in March have hedge funds returning 0.91% while the S&P 500 index returned 0.8% during the same period. 
Some hedge funds suffered big losses as stock markets dropped during the week after the disaster, when explosions rocked a nuclear power station about 135 miles north of Tokyo.
However, equities have rallied since then, limiting losses.
Still, most funds may end the month with losses.
"For the month of March it appears only two strategies will post positive gains," Bartels said Monday.
Equity market neutral and event-driven managers were the best performers last month, while long/short equity funds and trend-following funds known as commodity trading advisers, or CTAs, were the laggards, Bartels added.
David Einhorn had his toughest first quarter since 2007, according to an update Monday from Greenlight Capital Re (GLRE), a reinsurer that invests its premiums with the hedge-fund manager.
Einhorn, who runs hedge-fund firm Greenlight Capital, is also chairman of Greenlight Capital Re, which reinsures property and casualty risks.  Source

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