Hedge Funds Performance

60% of funds profit in Q1

by

After a punishing year in 2008, nearly 60% of all U.S. hedge funds made money in the first quarter. That's a turnaround from last year, in which 62% of the funds lost money.

An analysis of the Absolute Return hedge fund database finds that 57% of funds tracked were positive for the year through March 31. The mostly negative performance of funds in Q1 2008 was a harbinger of worse performance as the year continued, with only 38% of funds completing the year in positive territory.

Hedge funds also performed better than the S&P 500 Index, which fell 11.67%