News Digest: Hedge funds gain in March, but industry trails stock market
April 17, 2023
Hedge funds turned into positive territory during March, advancing 0.34% for the month, but this wasn’t enough to pull the industry beyond the stock markets that gained 3.67% during the same period, new data has revealed.
Data published by Backstop BarclayHedge, which tracks more than 6,900 hedge funds and funds of funds, indicates that the hedge funds advanced 2.6% through the end of March at a time when the S&P 500 Total Return Index gained 7.5%.
Leading the recovery was the Tech Index which advanced 4.31% in March, while the Option Strategies Index was up 2.96% and the Pacific Rim Equities Index by 2.04%. Losing ground during this period included the Fixed Income Arbitrage (-2.19%), the Emerging Markets Global Fixed Income (-1%) and the Event Driven Index by 0.89%. Barring a handful of subsectors, hedge funds were in positive territory for year-to-date through end-March.