Morningstar Hedge Fund Index

Morningstar Hedge Fund Index 

Morningstar 1000 Hedge Fund Index Returns 2.7% in March

Morningstar reports that its 1000 Hedge Fund Index returned 2.77% in March and 1.63% for the quarter.  The firm also said that hedge funds put a significant dent in year-to-date outflows by adding $2.59 billion in inflows during February.  Although it has been a somewhat slow month for hedge funds, Morningstar’s VP predicts that funds will be more active as the stock market rallies.

The Chicago-based research giant said its Morningstar 1000 Hedge Fund Index retunred 2.77% last month and 1.63% in the first quarter. The firm also said that hedge funds enjoyed some $2.59 billion in inflows in February, cutting the industry’s year-to-date outflow to just over $1 billion.

“Hedge funds remain cautious, but they are peeking their heads out at the stock market rally,” John Rekenthaler, vice president of research, said. “They are assumer greater market risk while equity markets rebound.”

All but one hedge fund strategy tracked by Morningstar managed a positive return during that market rebound last month. Distressed securities funds did best, adding 5.81%% (7.42% year-to-date), followed by U.S. small-cap funds (4.53%, 2.49% YTD), emerging market equity funds (4.3% in March, 1.75% YTD) and global trend funds (4.08%, 0.04% YTD).

Only short equity funds lost ground in March, falling 0.48% (down 2.36% YTD). Funds of hedge funds rose 1.6% in March and are essentially flat—up 0.05%—on the year.  Source

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