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Hurt Hedge Funds Recovering on Best Month in Two Years

  • Almost 70% of hedge funds globally advanced in March
  • Average return of funds was 2.3%, according to eVestment
Updated on

After the worst start to a year since 2008, hedge funds repaired some of the damage in March as investments in equities, fixed income and commodities fueled the best monthly gains in two years.

Almost 70 percent of hedge funds globally advanced last month, with average returns of 2.3 percent, according to eVestment on Friday. The $1.3 billion CQS Diversified Fund, down more than 4 percent through February, gained 5.2 percent, according to an investor letter seen by Bloomberg, while the Lyxor Odyssey Value Fund which manages less than $10 million was up 9 percent after losing 13 percent in the first two months. A spokesman for CQS declined to comment.