Hedge funds posted modest gains last month with the HFRX Absolute Return Index rising +0.25% (+0.65% YTD) and the HFRX Global Hedge Fund Index gaining +0.03% for month (+1.66% YTD), Hedge Fund Research said in its monthly report.

"Global financial markets posted mixed performance in March, as the U.S. Federal Reserve increased U.S. interest rates," HFR said. I