Managed futures key to Q1 Fohf returns

Fohfs holding managed futures and short-biased managers were best performers in first quarter of 2008

By Aimee Savage Fund of hedge funds that held managed futures and short-biased managers were the best performing vehicles in the first quarter of 2008, according to Standard's & Poor's. In what was one of the worst ever quarters for funds of hedge funds, the ratings agency said managed futures and CTAs were the only underlying vehicles that made money. These were able to take advantage of strong trends in bonds, currencies and commodities. Over the period under review, S&P said Permal FX, Financials & Futures and Theta Multistar Low Volatility were the best performing rated offering...