NEW YORK (HedgeWorld.com)–The MSCI Hedge Invest Index, an investable hedge fund index, returned 0.15%, eking out positive performance amid a widely divergent month of performance for strategies in the index.
The quarterly return for the MSCI Hedge Invest Index was 1.81%.
By far the best performance in the index came from Japanese long/short equity funds, which returned 6.23% in the month, comprising the bulk of its quarterly returns, which were 6.89%. Japanese long/short falls into MSCI’s enhanced category, which includes long/short equity and short-biased funds.
Currency managers turned in the worst performance in March, negative 4.38%, bringing quarterly returns to negative 3.37%, also the worst for the period. Currency fund managers are a part of MSCI’s directional category, which overall returned negative 1.07% in March and positive 1.78% in the quarter.