|
Laxman Pai, Opalesque Asia: Global hedge funds recorded a larger loss in March than they did at the height of the global financial crisis, as the COVID-19 pandemic shook equity markets worldwide.
The Preqin All-Strategies Hedge Fund benchmark lost 8.96%, compared to February's return of -2.34%. The level of losses was worse than in September (-6.66%) and October (-8.10%) of 2008.
Macro strategies performed best of all top-level strategies in March (-1.33%). This pushed their 12-month return to +4.70%.
In contrast, equity (-11.71%) and event-driven (-14.69%) strategies were hit hard in March.
Of all the size classifications, large hedge funds performed the best (-6.22%). This pushed their YTD and 12-month returns to -6.81% and -0.04% respectively.
Medium-sized hedge funds followed (-8.55%) while small and emerging hedge funds experienced greater losses: 9.14% and 9.59% respectively.
CTAs buck the trend
CTAs were the only top-level strategy to make gains (+3.19%), bringing the year to date (YTD) and 12-month returns to +2.79% and +6.85% respectively.
CTAs bucked the trend to make gains in March. Discretionary CTAs were the best performing sub-category, returning +7.08% in March, +7.18% YTD and +7.95% over 12 months. USD-denominated CTAs (+3.30%) outperformed their EURdenominated counterparts (+1.14%) for the month.
Meanwhile, CTAs were able to navigate the tough market conditions in Q1 and came out on top among top-level strategies.
A ...................... To view our full article Click here
|
RSS
