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Komfie Manalo, Opalesque Asia:

Hedge funds posted gains through mid-March with the HFRX Market Directional Index rising 0.29% and the HFRX Global Hedge Fund Index gaining 0.11% through mid-March as the U.S. Fed increased interest rates, data provider Hedge Fund Research reported.

The HFRX Equity Hedge Index gained 0.96% through mid-March as global equity markets were mixed during the period. The HFRX Fundamental Growth Index posted a gain of +1.27% from gains in emerging Asia, MENA and global healthcare exposure. The HFRX Fundamental Value Index returned 0.85% from exposure to large-cap equity European and U.S. financial, industrial and communications sectors. The HFRX Market Neutral Index gained 0.64% from gains in mean reverting, factor based strategies and fundamental managers.

HFR said in its money report, "The interest rates hike also saw the global financial markets to post mixed returns during the same period, while European equities led broad based equity market gains, which were partially offset by a sharp decline in oil."

It added that European equities led gains through mid-month as equities responded favorable to the Netherlands election, with leadership from Spain, Italy, France and the Netherlands; Asian & US equities posted more modest gains led by Technology and Emerging Asian regions.

"U.S. treasury yields rose as the F......................

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