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Alternative Market Briefing

Hedge Fund Index up +0.43% for March

Tuesday, April 23, 2019

Laxman Pai, Opalesque Asia:

The Hennessee Hedge Fund Index increased +0.43% for the month (+5.70% YTD), while the S&P 500 was up +1.79% (+13.06% YTD), the Dow Jones Industrial Average increased +0.05% (+11.16% YTD), and the NASDAQ Composite Index gained +6.18% (+20.53% YTD).

Bonds were positive for the month, as the Barclays Aggregate Bond Index increased by +1.92% (+2.94% YTD).

The top three strategies for the month were Healthcare and Biotech (+1.92%), Asia Pacific (+1.83%) and Technology (+1.70%). While, the bottom three strategies for the month were Emerging Markets (-1.23%), Short Biased (-1.15%) and Latin America (+0.79%).

For the year, Healthcare and Biotech (+14.45%) leads all strategies while High Yield (+1.10%) brings up the rear.

Long/Short Equity Index gains +0.41%

Equity long/short hedge funds were positive for the month, as the Hennessee Long/Short Equity Index gained +0.41% (+7.15% YTD).

The better performing sectors were Information Technology (+5.41%), Consumer Discretionary (+4.38%) and Consumer Staples (+3.94%). While underperforming sectors were Financials (-3.05%), Industrials (-1.47%) and Healthcare (+0.37%).

The Hennessee Arbitrage/Event Driven Index increased +0.76% for the month (+4.30% YTD).

The Barclays Aggregate Bond Index increased +1.92% for the month (2.94% YTD) as interest rates decreased for the month.

The Merrill Lynch High Yield Master II Index increased +3.33% for the month, and high yield sp......................

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