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Opalesque Industry Update - Hedge fund managers the ended month of March up 1.04% on an equal-weighted basis, and down 0.63% on an asset-weighted basis, said Eurekahedge. Global equity markets were supported by the implementation of the Biden administration's US$1.9 trillion economic stimulus package and the continued speedy rollout of vaccines. On a year-to-date basis, global hedge funds were up 4.92% over the first 3 months of 2021. Global hedge funds have also recorded their best 12 month run since the inception of the index as they have returned 28.08% since end March 2020. Returns were mostly positive across geographic mandates in March with European and North American hedge funds gaining 1.47% and 1.14% respectively while Asian hedge funds were down 0.49%. Across strategies, event driven and distressed debt outperformed their strategic peers with returns of 1.16% and 1.10% respectively.
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