III down in uncertainty


Interest-rate volatility made March a difficult environment for fixed income-focused strategies, which ended the month largely flat. The strategy was affected by uncertainty in the marketplace, with traders not sure as to what the Federal Reserve would do. Fixed-income traders holding on to interest-rate instruments may have been troubled when rates fell and didn't recover until April. III's Global Ltd fund suffered a 1.2% loss, bringing its three-month total to 1.6%, while the Universal Bond Fund also saw a loss, posting a 2.1% dip in March. But neither of those funds' losses compared to the Blue River Advantaged