Hedge Fund Returns for March 2009

Credit Suisse/Tremont have lowered their estimate of hedge fund returns for March to 0.68%. HFRX have not changed their estimate from -0.03%. But the HFRI index is reporting a 1.84% gain for March and the numbers are better than Credit Suisse/Tremont in most fund styles. HFRI is equal weighted while Credit Suisse/Tremont is capitalization weighted. Fixed income and long/short equity did well and short bias (not surprising) and managed futures did poorly.