Performance

Index up 0.5% for Q1 gain of 0.97%

by

European hedge funds generally enjoyed another solid month in March, with the EuroHedge Composite Index showing a median gain of 0.57% to take the first quarter return to almost 1%.

All but two strategy areas were positive, with a big rebound by emerging market funds leading the way. The exceptions were credit, where the median was narrowly down, and managed futures - where the median was down by 2.63% to take the YTD CTA return into negative territory.



EUROHEDGE INDICES

Strategy

Mar-09

YTD

European Long/Short USD

0.28%

0.24%

European Long/ Short GBP

0.58%

0.80%

European Long/ Short EUR

0.49%

0.62%

Macro USD

0.43%

1.55%

Fixed Income USD

1.06%

3.08%

Global Equity USD

0.87%

0.92%

Managed Futures USD

-2.63%

-2.58%

Credit USD

-0.09%

0.36%

Currency

0.25%

1.65%

Event Driven USD

0.10%

0.10%

Mixed Arbitrage