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Hedge funds return 2.4 pct in Q1, beating broad stock index -HFR

Reuters – The average hedge fund climbed 2.4 percent during the first quarter, handily beating the broader stock market, according to industry data released on Wednesday and giving the exclusive industry a dose of good news after months of lackluster returns.

Hedge Fund Research, an industry tracking firm, reported that the HFRI Fund Weighted Composite Index gained 0.5 percent in March, leaving it up 2.4 percent for the first three months of the year. The Standard & Poor’s 500 index rose only 0.4 percent during the quarter.

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