Close Close

Portfolio > Alternative Investments > Hedge Funds

Futures Managers Slammed in March

Your article was successfully shared with the contacts you provided.

NEW YORK (–After two months of great performance, futures manager returns fell sharply in March to negative 7.63%, according to the S&P Managed Futures Index.

The S&P futures index had returned 14.37% in January and February, so its quarterly return is still a strong 5.64% Previous HedgeWorld Story.

S&P’s overall hedge fund index fared better in March with a return of negative 0.34%, according to the S&P Hedge Fund Index. That return was slightly behind the S&P 500 Index, which returned 0.84% in March, while the MSCI World Sovereign Index returned negative 1.13% in the same period.

Meanwhile, the S&P Arbitrage Index returned negative 0.14% in March and the S&P Event-Driven Index returned 0.72%. The S&P Directional/Tactical Index returned negative 1.59%.

Longer term, the S&P Hedge Fund Index finished the first quarter with respectable returns of 2.47%, garnering strong performance from all three of its sub indexes. The S&P Arbitrage Index returned 2.35% in the quarter, the S&P Event-Driven index returned 2.91%, and the S&P Directional/Tactical Index returned 2.17%.

The arbitrage index is composed of convertible arbitrage, fixed-income arbitrage and equity market neutral funds, and the event-driven index is composed of merger arbitrage, distressed securities and special situations funds. The directional/tactical category includes long/short equity, global macro and futures funds.

[email protected]