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Barclay Hedge Fund Index dips 0.09% in March +1.39% YTD

Thursday, April 17, 2014
Opalesque Industry Update - Hedge funds lost 0.09% in March, according to the Barclay Hedge Fund Index compiled by BarclayHedge. The Index is up 1.39% year to date.

“Global equity markets experienced their version of March Madness as fears of Russian expansionism, Fed tightening, and slowing growth in China spiked intra-month volatility,” says Sol Waksman, founder and president of BarclayHedge.

The Equity Short Bias Index fell 2.47% in March, the Technology Index lost 2.34%, Healthcare & Biotechnology gave up 1.29%, Global Macro was down 0.92%, and European Equities lost 0.90%.

“US growth stocks stumbled at month-end as share prices of hedge fund favorites such as Google, Facebook, and Yahoo dropped sharply,” says Waksman.

On the positive side, the Distressed Securities Index was up 0.86% in March, Convertible Arbitrage gained 0.79%, and Fixed Income Arbitrage gained 0.50%.

“In spite of higher interest rates and lower prices on US Treasuries, prices on high yield bonds rose and contributed to the narrowing of credit spreads, which typically provides a favorable backdrop for relative value fixed income trades,” says Waksman.

At the end of the first quarter, the Healthcare & Biotechnology Index is the strongest performer with a 9.63% gain. Distressed Securities are up 4.20%, the Event Driven Index has gained 3.03%, and European Equities have returned 2.82%.

After three months, Equity Short Bias is down 4.78%, Pacific Rim Equities have lost 2.06%, Global Macro has given up 1.70%, and Emerging Markets are down 1.61%.

The Barclay Fund of Funds Index lost 0.73% in March, but remains up 0.62% year to date.


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