This Hedge Fund Has Done Well In This “Peculiar Environment”

Backbone Capital was down 0.57% for March, bringing its year-to-date return to 8.8%. In the firm's March letter to investors, which was reviewed by ValueWalk, the Backbone team noted that both the market and volatility declined in the last week of the month. However, their models adapted well to the "peculiar environment with more neutral exposures."

Q1 2021 hedge fund letters, conferences and more

Reassuring the market

The Backbone team noted that some good economic news was needed after the recent unexpected blockage in the Suez Canal and the disaster at Archegos Capital. The good news has come in several parts of the world.

For example, the economy in...