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FAIRFIELD, Iowa, April 16, 2014 — Hedge funds lost 0.09% in March, according to the Barclay Hedge Fund Index compiled by BarclayHedge. The Index is up 1.39% year to date.
“Global equity markets experienced their version of March Madness as fears of Russian expansionism, Fed tightening, and slowing growth in China spiked intra-month volatility,” says Sol Waksman, founder and president of BarclayHedge.
The Equity Short Bias Index fell 2.47% in March, the Technology Index lost 2.34%, Healthcare & Biotechnology gave up 1.29%, Global Macro was down 0.92%, and European Equities lost 0.90%.
“US growth stocks stumbled at month-end as share prices of hedge fund favorites such as Google, Facebook, and Yahoo dropped sharply,” says Waksman.
On the positive side, the Distressed Securities Index was up 0.86% in March, Convertible Arbitrage gained 0.79%, and Fixed Income Arbitrage gained 0.50%.
“In spite of higher interest rates and lower prices on US Treasuries, prices on high yield bonds rose and contributed to the narrowing of credit spreads, which typically provides a favorable backdrop for relative value fixed income trades,” says Waksman.
At the end of the first quarter, the Healthcare & Biotechnology Index is the strongest performer with a 9.63% gain. Distressed Securities are up 4.20%, the Event Driven Index has gained 3.03%, and European Equities have returned 2.82%.
After three months, Equity Short Bias is down 4.78%, Pacific Rim Equities have lost 2.06%, Global Macro has given up 1.70%, and Emerging Markets are down 1.61%.
The Barclay Fund of Funds Index lost 0.73% in March, but remains up 0.62% year to date.
Click here to view five years of Barclay Hedge Fund Index data or download 17 years of monthly data.
Sol Waksman is an experienced media source, providing perspectives on hedge fund and managed futures trends. For more commentary or background, call 641-472-3456 or email swaksman@barclayhedge.com.
BarclayHedge was founded in 1985 and actively tracks more than 6,200 hedge funds, funds of hedge funds, and managed futures programs. Each month Barclay provides updated performance rankings for 38 Hedge Fund categories, 16 CTA categories, and 7 UCITS categories.
Institutional investors, brokerage firms, and private banks worldwide utilize BarclayHedge indices as performance benchmarks for the hedge fund and managed futures industries.
