Fund managers using AI/machine learning strategies gained 3.45% in March, registering their third consecutive month of outperformance against the wider hedge fund industry. On a year-to-date basis, the Eurekahedge AI Hedge Fund Index is up 3.19%. The Eurekahedge AI Hedge Fund Index is an equally weighted index of over a dozen constituent funds. The index is designed to provide a broad measure of the performance of underlying hedge fund managers who use artificial intelligence and machine learning theory in their trading processes.
“Returns were mostly negative across strategic mandates in March with long volatility, tail risk and AI strategic mandates up 23.12%, 11.09% and 3.45% respectively. The volatile market environment and difficult trading situation have provided these strategies an opportunity to exhibit their value propositions over more traditional hedge fund strategies,” according to Eurekahedge.
The Eurekahedge Crypto-Currency Hedge Fund Index was down 20.21% in March, outperforming bitcoin which ended the month down 26.14%. Fund managers focusing on crypto-currencies are down 4.79% over the first three months of 2020. The Eurekahedge Crypto-Currency Hedge Fund Index is an equally weighted index of over a dozen constituent funds. The index is designed to provide a broad measure of the performance of underlying hedge fund managers that allocate to bitcoin and other cryptocurrencies. The index is base weighted at 100 at Jun 2013, does not contain duplicate funds and is denominated in USD.