Roughly 64.3% of the underlying constituents of the Eurekahedge Hedge Fund Index posted positive returns in March, and 15.3% of the hedge fund managers in the database were able to maintain a double digit return in 2021.
Figure 1: March 2021 and February 2021 returns across regions
Figure 2 illustrates the 2021 performance of hedge fund managers across regions. As of March year-to-date, most of the geographic mandates with the exception of Latin America have recorded positive returns. Global hedge funds registered their best March year-to-date return since 2006 as they returned 4.79%, supported by the US$1.9 trillion economic stimulus package rolled out by the Biden administration as well as the continued speedy rollout of vaccinations. North American hedge funds outperformed their regional peers with their 6.77% return, followed by Japanese hedge funds which returned 6.27%. At the other end of the spectrum, Latin American hedge funds lagged behind the group with a return of -1.04% as their returns were negatively impacted by poor performance of the Latin American equity market, with the MSCI EM Latin America Index IMI (Local) returning -0.04% over the first three months of 2021.
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