Emerging markets ruled the performance charts in March with funds of funds investing in them up 1.29%. The year-to-date numbers for the emerging markets are now finally in positive territory up 0.36%. Overall funds of funds acted as a buffer and ended the first quarter down 0.11% but still up 0.87% for the year to date.
Global multi-strategy fared a little better than the median, down only 0.06% in March and up 1.18% for the first quarter of 2011. The only other negative performance in March came from global macro and CTAs, which were