Hedge funds delivered a mixed bag of results in March as bank risk jumped amid instability and dislocations arising from a number of bank failures and the acquisition of Credit Suisse by UBS, says HFR, a research firm tracking the global hedge fund industry. Its fund-weighted composite index declined an estimated 0.8 per cent in March; the investable HFRI 500 Fund-Weighted Composite index slipped an estimated 1.2 per cent; and the HFRI 400 (U.S.) Fund-Weighted Composite index fell by an estimated 1.5 per cent. However, the HFR Cryptocurrency index rose 5.2 per cent, increasing its year-to-date performance to 31.4 per cent. All told, almost one-half of hedge funds reported positive performance in March.
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