According to MSCI data, the majority of process groups posted losses in March. The MSCI Specialist Credit Index boasted the highest return of all process groups by gaining 0.11%. Meanwhile, the MSCI Security Selection Index suffered the largest loss of 1.08%.
Under MSCI Security Selection Index, Long Bias funds posted a loss of 1.47% and Short Bias funds posted a gain of 1.72%. The MSCI Relative Value Index posted a loss of 0.13% among process groups.
Under MSCI Relative Value Index, Statistical Arbitrage posted the highest gain of 0.50%, while Convertible Arbitrage posted the largest loss of 1.21%. By asset class, the MSCI Hedge Fund Equity Index lost 0.86%, while the MSCI Hedge Fund Fixed Income Index posted gains of 0.27%.
The MSCI Hedge Fund Currency Index posted a loss of 1.04%. By geography, the MSCI Hedge Fund Emerging Markets Index posted the largest setback of 1.94%, followed by the MSCI Hedge Fund Global Markets Index and the MSCI Hedge Fund North America Index, which lost 1.08% and 0.63%, respectively.
In terms of hedge fund size, the MSCI Hedge Fund Small Fund Composite Index lagged the MSCI Hedge Fund Core Fund Composite Index by 0.30%, according to the MSCI data.
March also saw the MSCI World Equity Index and the MSCI World Sovereign Debt Index, posting losses of 1.93% and 1.32% respectively.
The MSCI Hedge Fund Database has grown to over 2,000 hedge funds and more than 190 indices representing more than $270 billion in assets. Over 98% of the funds in the database reported performance as of March’s index calculation, MSCI said.