JPM: Hedge Fund Short Covering At Record Levels

JPM: Hedge Fund Short Covering At Record Levels

J.P. Morgan’s monthly Prime Brokerage Global Hedge Fund Trends report shows that all the major hedge fund strategies posted gains in March except for global macro.

March Was Best Month For Hedge Funds In Two Years

The best-performing strategy among the hedge funds the bank works with was equity long-short, which clocked up an average gain of 3.43%. Event-driven managers managed an average gain of 2.74%, and global macro funds posted an average loss of -1.35%. According to JPM, this loss was attributed, “largely to systematic strategies, which suffered on acute reversals in currencies, oil, and emerging markets.”

Short covering hits...

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