March was effectively a flat month for the fund of funds industry with the InvestHedge Composite down 0.12%. The year-to-date returns are still up 0.65% giving hope of a more stable year. This is reflected in the global multi-strategy performance that was down only 0.15% in March and up 0.99% for the year so far.
The month's top performers were the emerging markets that were up 1.06%, taking the year to date to 1.09%, with China's indices posting sizeable gains and boosting the returns of many funds focused in these regions.
Equity funds of funds largely had a