Hedge fund managers reported positive returns for March, with Europe-focused managers and macro-style managers performing best.
The Hennessee Hedge Fund Index returned 3.2% in March, and was up 5.7% in the first quarter. Europe-focused firms in the Hennessee index returned on average 9.2% in March, followed by macro managers with a return of 7.3%. Preliminary data at MAR/Hedge also showed macro managers performing well, with a monthly return of 6.5%.
Short sellers had another tough month with the U.S. stock market performing well.
Short sellers tracked by Hennessee were down 0.6%, the worst performing category, while those at MAR/Hedge were down 0.2%.