Despite regaining momentum in February with positive returns, the hedge fund industry ended the first quarter of 2014 on a negative note, according to the latest report from eVestment.
eVestment, which provides technology solutions and database for traditional and alternative investment firms, indicated in its March & Q1 2014 Hedge Fund Performance Report that hedge funds lost a total of approximately -0.11% during the period. Despite the loss, over half of all major strategies outperformed the Standard & Poor's 500 in the first quarter of this year.
Volatility and credit strategies gained 1.51% and 0.59% in March, respectively, while all other strategies saw negative returns. Distressed funds ended Q1 with another positive month in March--their ninth consecutive month in the black. Distressed funds have only posted one monthly loss in nearly two years.
On the flipside, the report concluded that commodity and managed futures funds were two of the most negatively impacted funds due to the “shocks in commodity prices in March.”
Founded in 2000, eVestment acquired hedge fund analysis provider Pertrac and cloud-based hedge fund technology provider Fundspire last year. It now offers one of the world’s largest traditional and alternative investment databases.