Pivotal Point of View — March 2020

Published 8 April 2020 · Covers March 2020

Originally issued as March 2020.

March was a volatile month due to the coronavirus pandemic and oil price war. All things considered, hedge funds held up relatively well in this environment, with many faring better than broad market indices

−7.6%Composite, March

−8.6%Composite, year to date

−8.6%Composite, Q1

Volatility TradingLeading strategy

Headline strategy indices

Strategy	March	Year to date
Volatility Trading	+5.0%	+6.1%
Managed Futures	−0.3%	−0.2%
Equity Quant	−3.3%	−6.5%
Global Macro	−4.0%	−4.6%
Multi-Strategy	−6.4%	−5.8%
Equity Sector	−7.2%	−7.3%
Equity Diversified	−8.4%	−11.6%
Event Driven	−10.0%	−11.7%
Credit	−11.7%	−11.5%

Net of fees, in USD. The Composite plus the nine headline indices with a published monthly series; ordered by month return.

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