Activist Funds Top In March, Nelson Peltz Leads, Ackman Lags

Hedge funds marked their best month over 24 months in March, according to eVestment's analysis of the hedge fund industry. Event-driven hedge funds recorded a 3.4% rise in March and even better, activist funds grabbed a 5.35% return in the same period. Overall, the hedge fund industry grabbed a 2.29% return last year, closing the first quarter with a -0.4% return.

Activist funds Trian Partners and Owl Creek lead

Activist hedge funds were up 1.17% in the first quarter. The biggest winner in the event-driven category was Nelson Peltz's Trian Partners.  According to data from HSBC's Hedge Weekly, the firm gained 7% in March, edging up its total return for the first quarter...