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Hennessee Hedge Fund Index Declines In March

by Carla Johnson, Investors Offshore.com

14 April 2005

Hennessee Group LLC, an adviser to hedge fund investors, has announced that weak equity markets contributed to negative performance of hedge funds in March, as the Hennessee Hedge Fund Index declined by 0.73%.

Hennessee noted that the broad market indices were negative for the month as the S&P 500 declined by 1.77%, the Dow Jones Industrial Average fell 2.44%, and the NASDAQ Composite Index shrank by 2.56%.

Hedge funds posted positive performance for the first quarter, as the Hennessee Hedge Fund Index inched up by 0.32%. All of the broad equity market indices remain negative for the year through March.

Unusually, both the equity and bond markets experienced a negative quarter, the first time that both have been negative in the same quarter for five years.

“For the first time since 2000, both markets (bonds and equities) had negative performance for the quarter,” noted Charles Gradante, managing principal of Hennessee Group LLC.

“This is indicative of the struggle hedge funds are having,” he observed.

A comprehensive report in our Intelligence Report series examining offshore investment, offshore stock exchanges, and hedge funds is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report9.asp

 

 






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