The Dow Jones Credit Suisse Hedge Fund Index (HFI) posted positive performance in March, up 0.12%, with five out of ten strategies in the index posting positive performance for the month.

Emerging Markets was the best performing sector in March, up 2.12%, as managers gained from long currency and equity positions which were bolstered by better than estimated earnings.

Despite early losses following the market's reaction to the events in Japan, Equity Market Neutral managers finished the month up 1.11% as they benefited from the re-risking in the latter portion of the month.

Global Macro managers also posted positive performance (0.15%) for the month as the resulting market dislocation following the event in Japan created a number of shorter-term tactical trading opportunities.