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Eurekahedge Hedge Fund Indices

Hedge Fund Monthly
 
 
April 2011 Hedge Fund Performance Commentary
Eurekahedge
April 2011
 

Introduction

Hedge funds were up for the ninth consecutive month in March as managers navigated successfully through turbulent market conditions. The Eurekahedge Hedge Fund Index was up 0.15%1 in March, bringing its year-to-date return to 1.26%. In contrast, the MSCI World Index was down 1.53%2 for the month.

All regions outperformed their respective underlying market indices in a month that started off with declines in global markets due to discouraging reports about the European debt situation, Chinese economic data and continued political tensions in the Middle East. The disastrous earthquake and tsunami in Japan on 11 March and the subsequent crisis at the Fukushima Daiichi nuclear power plant then led to a sharp sell-off in markets around the world.

Asia ex-Japan hedge funds delivered the best performance among the major hedge fund regions in March, gaining 2.18%. The MSCI AC Asia Pacific Ex Japan Index advanced 3.66% as a number of underlying markets posted significant gains. The BSE Sensex rose 9.1% on the back of strong foreign investment flows, while South Korea's Kospi and Thailand's SET gained 8.63% and 6.03%, respectively. Chinese markets also posted a strong recovery near the month-end, with the Hang Seng returning 0.81% and the Shanghai Composite posting 0.79%. Among other regions, returns from North American and European hedge funds were flat while Japanese managers delivered excellent downturn protection amid sharply falling markets. Japanese hedge funds lost 1.04% on average in March, while the Topix and the Nikkei 225 were down 8.61% and 8.18%, respectively.


February 2011 and March 2011 returns

North American and Japanese hedge funds continue to remain ahead in the YTD return measure with gains of 2.73% and 2.29%, respectively. Investors are starting to look at...

 

The full article is available in The Eurekahedge Report accessible to paying subscribers only.

 

Subscribers may continue to login as usual to download the full report and non-subscribers may email database@eurekahedge.com to enquire on how to obtain the full research report.

 

Footnotes

1 Based on 68.37% of the funds reporting their March 2011 returns as at 16 April 2011.

2 The MSCI World Index Free – Local Currency

 

 

 

 
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