Opalesque Industry Updates - Early estimates indicate the Credit Suisse/Tremont Hedge Fund Index (“Broad Index”) will finish up +2.09% in March (based on 70% of assets reporting).|
Key highlights for the month;
- Emerging Markets returned an estimated 3.62% in March, making a comeback from the previously negative returns seen in the first two months of 2010. Returns were largely driven by profitable currency trades and strong equity performance across emerging markets.
- Event Driven finished up an estimated 3.36% in March. Credit driven situations were the main drivers of returns in the space, as managers benefited from strong credit markets, which, in turn, were bolstered by a record level of junk bond sales.
- Long/Short Equity funds returned an estimated 3.04% last month, as global equity markets rallied following various positive economic indicators. Conversely, Dedicated Short Bias managers struggled throughout the month, finishing down an estimated 6.21%.
Global Macro experienced mixed performance and finished almost flat for the month. Managers with long exposures to sovereign credit finished in negative territory, while those with currency and equity focus typically performed well.
Full performance table available: Source