March Gains Modest for Hedge Funds
The CSFB/Tremont Hedge Fund Index is up 0.7% for month, compared to:
- a 3.7% increase in the S&P 500
- a 6.6% return on the Nasdaq.
While over the year, the CSFB/Tremont Hedge Fund Index is up by 0.7%:
- compared to a -0.1% dip in the S&P 500
- a -5.6% slide in the Nasdaq.
Emerging markets funds, which aim to capitalize on the volatile fundamentals of developing countries, returned 3.9% over the month, and took the lead among the style-based sectors year-to-date, up 9.9%.
Event-driven strategies, which aim to capitalize on
price movements generated by pending corporate events such
as mergers or liquidations, were also among this month’s
winners, increasing by 1.2% over the month.
The CSFB/Tremont Hedge Fund Index comprised 377 funds, both offshore and US-based, in March 1, 2002.
In order to qualify for inclusion in the index selection universe, a fund must have US $10 million under management, a 12-month track record, and an audited financial statement.
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