The Greenwich-Van Global Hedge Fund Index returned 1.88% in March, according to a preliminary report, and was up 5.62% for the first quarter.
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Greenwich-Van Advisors LLC in Greenwich, Conn., said Wednesday that the S&P 500 index rose 1.25% last month and the Nasdaq index, 2.56%. The quarterly gain was the best in the index since the second quarter of 2003, it said.
The March hedge fund index preliminary results included 377 funds. An updated March index, based on a larger sample of funds, will be released in mid-April, the firm said.
