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Alternative Market Briefing

Hedge funds up 0.35% in Q1 while most equity markets post declines

Monday, April 09, 2018

Komfie Manalo, Opalesque Asia:

The volatile markets extended through March as hedge funds posted mixed returns with global equities falling on increased trade and tariff tensions between the U.S. and China, data provider Hedge Fund Research reported.

The HFRI Fund Weighed Composite Index fell 0.25% last month. For the first quarter 2018 (1Q18), the HFRI FWC advanced 0.35 %, topping the declines of the DJIA, S&P 500, and most European and Asian regional equity market indices.

"March and the first quarter of 2018 have already defined a significantly divergent financial market and hedge fund performance environment than prior years, with the shift and volatility punctuated by escalation of trade and tariff politics and economics," stated Kenneth J. Heinz, president of HFR.

Fixed income-based relative value arbitrage (RVA) was the only main strategy that produced positive returns during March, as equities and interest rates both declined, with the HFRI Relative Value (Total) Index posting a narrow gain of 0.02%. In the quarter, the HFRI RVA Index gained 0.84%, leading all HFR main strategy indices, while the HFRI RVA (Asset Weighted) Index jumped 1.43%, as larger credit multi-strategies posted stronger returns. RVA monthly and quarterly performance was led by the HFRI RV: Fixed Income-Asset Backed In......................

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