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Hedge fund profits bloom in tough economic times

The Australian – Australian managed equity-based hedge funds posted their strongest performance in March since the global financial crisis began in late 2007, but underperformed the market overall.

Data from Australian Fund Monitors showed that while the Australian equity market as a whole rebounded by 7 per cent during March, equity-based hedge funds returned 3.18 per cent over the month.

However, the funds have significantly outperformed the rest of the market over a 12-month period, declining by 13.20 per cent, compared to a 33.11 per cent negative return from the benchmark S&P/ASX 200 Index and a 39.68 per cent decline on the US-based S&P 500 Index.

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