Hedge fund indexes were flat in March of 2011, following in the footsteps of the S&P500 and other equity markets. The largest hedge funds in Morningstar's database were up just .1%. The S&P was up .04%
Following the financial meltdown in 2007 and beyond, hedge funds as a group had returns just about as disappointing as the broader market, making many question just how "hedged" the average fund is. In March anyway, hedge funds continued their lockstep performance with the markets.