Both credit and equity markets came back with force in March as investor risk appetite returned.
The InvestHedge Fund of Funds Composite was up a healthy 1.5%, taking the year-to-date returns into positive territory at 1.46%. Global multi-strategy funds largely mirrored this trend, up 1.46% for March and 1.65% for the year. All fund of funds strategies had a roaring month as consumer-spending data and service-sector activity showed signs of strength. Asia-Pacific funds of funds were up 2.45% for March and are now only nominally down for the year at -0.04%. Emerging markets were up 1.39% in March