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Alternative Market Briefing

eVestment Q1 hedge fund data shows positive performance despite march downturn

Thursday, April 12, 2012

Bailey McCann, Opalesque New York: According to new Q1 data provided on a conference call by global provider of institutional investment data and analytics, eVestment Alliance hedge funds showed strong first quarter performance despite a slight downturn in March. Data shows that funds returned an average of 4.6% the best start to a year since 2006. However, hedge fund assets declined $10.5bn in March as redemptions went up and some strategies failed to perform as well as they had previously.

Investors withdrew an estimated $5.8bn in March. The HFN Hedge Fund Aggregated Index was down 9 basis points versus an increase of 1.1% for the S&P Global 1200 index. Commodity indexes also saw declines between 2-4.5%. Emerging markets exposure let the March decline, as funds invested in China and India were down 2% and 3% respectively.

Some funds still showed positive performance in March, however, smaller funds typically outperformed their larger counterparts throughout the month and the quarter. These high performing smaller funds often have bigger exposure to the equities markets which rallied throughout the period. Credit strategies also posted solid returns throughout Q1.

Global macro, managed futures and commodity strategies are most popular with investors, reporting a net inflow of $11.8bn for the quarter, although they were eclipsed by credit strategies which saw net inflows of $19.2b. Investors largely left or st......................

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