Equity Hedge Funds Best Start Since 2013 Fueled by Asia Bets
- Long-short strategy returned 3.2% in the first quarter
- Hedge funds on average gained 1.7% on asset-weighted basis
Traders work on the floor of the New York Stock Exchange in New York, U.S., on Monday, June 30, 2008. It's been 14 years since investors suffered as big a retreat in stocks and bonds and some of the largest money managers say the losses may have more in common with the 1974 bear market before the worst is over.
Photographer: Andrew Harrer/BloombergEquity hedge funds are getting a pick-me-up after a harsh 2016, when they suffered almost a third of the industry’s withdrawals, amid a global stock rally.
The long-short strategy -- the top performer -- returned 3.2 percent in the first quarter on an asset-weighted basis, marking the best start to a year since 2013, according to Hedge Fund Research Inc. Emerging markets had some of the most robust gains, with an average 5.5 percent return led by wagers in India and China.