The Credit Suisse/Tremont Hedge Fund Index was up 1.82% in March and 5.46% in the first quarter ending March 2006, according to Oliver Schupp, President of the Credit Suisse/Tremont Hedge Fund Index.
“The equity market strengthened as a four-year high in consumer confidence, better than expected employment figures, and extensive corporate activity contributed to the Long/Short Equity sector’s positive performance of 2.45% in March,” says Oliver Schupp. “Convertible Arbitrage managers continued their upward trend with a 1.48% return for March. The sector profited from new issuances and increased trading volumes, resulting in a first quarter return of 5.51%.”
“Managed Futures was the strongest performing sector this month with a return of 4.08%, benefiting from a weaker USD and a strengthened commodities market, particularly in base metals with both zinc and copper trading at record highs,” adds Robert I. Schulman, Chief Executive Officer of Tremont Capital Management, Inc. “As the S&P 500 and other indices hit their highest volume levels in over three years, strong momentum and value/growth factors influenced the positive Equity Market Neutral performance with a 1.62% return in March.”