Not All L/S Equity Strategies Are Equal

Alternative strategies were fairly resilient during the first weeks of the market turmoil but cracks appeared mid-March. As of March 16th , most strategies except CTAs were down in a range of -5 to -10% month-to-date: Event Driven was down -10.6% in the first half of March (with Merger Arbitrage down -9.6%), Global Macro was down -7.4% (with Systematic Macro down -2.5%), L/S Equity was down -6.2% (with Market Neutral L/S down -2.3%), L/S Credit was down -4.4%.