A rise in equities, particularly technology and small-cap stocks, helped hedge funds turn in solid returns in March. According to preliminary research from Absolute Return, U.S. hedge funds gained a median 1.37% for the month, with every strategy soundly in the black. For the first quarter, the Absolute Return Composite Index gained a healthy 4.11%.
In March, technology was by far and away the best-performing strategy, with performance, at an estimated 2.59%, in virtual lockstep with the Nasdaq Composite Index, which rose 2.56%. U.S. equities overall also put in a satisfactory appearance, helped by a rally in the second