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Greenwich Global Hedge Fund Index down -0.1% in March (+1.4% YTD)

Monday, April 11, 2011
Opalesque Industry Update - Most hedge funds advanced in the month of March, but losses in Directional funds dragged down the group as a whole. The Greenwich Global Hedge Fund Index (“GGHFI”) shed 10 basis points compared to global returns in the S&P 500 Total Return +0.04%, MSCI World Equity -1.24%, and Barclays Aggregate Bond +0.06% indices. 58% of constituent funds in the GGHFI ended the month with gains.

“The whipsaw action in the market during March led many trend following funds to change course and suffer losses in the latter half of the month,” notes Clint Binkley, Senior Vice President. “The remainder of hedge fund strategies, including Long-Short Equity and Market Neutral strategies earned a market-beating return. The outlook for managers is positive as increased volatility tends to work in favor of most hedge fund strategies.”

Hedge Fund Strategy Highlights

  • Market Neutral funds perform best during March, led by Arbitrage strategies
  • Long-Short Equity managers also realize gains of 43 basis points
  • Directional Trading funds lag other strategies, led to the downside by Managed Futures funds
  • Distressed Securities funds lead all hedge fund strategies on a year-to-date basis
  • Emerging Market funds outperform Developed Market managers by more than 1% on average

The GGHFI is one of the oldest benchmarks of the hedge fund universe. Final Strategy and Regional index results for March will be available in early May, once additional funds have submitted returns. Past performance and indices construction rules for all Greenwich Hedge Fund Indices may be viewed at www.greenwichai.com...Full performance table: Source
-KM

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