U.S. long/short equity funds benefited from volatility in March, rising substantially to overtake the hedge fund composite and stay ahead of the broader equities market.
The Absolute Return U.S. Equity Index surged 1.18% in March, producing a 2.61% gain YTD. That's well ahead of the S&P 500's March net total return of 0.50% and its 1.08% rise for the quarter. Long/short equities also beat the Absolute Return Composite Index, which rose 0.76% for the month to total 2.53% for the year so far.
Global long/short equity funds advanced in March, though they did trail the global equity markets. The