With a return of 0.29% in March, hedge funds have yielded a 3.35% year-to-date return, according to the Hennessee Hedge Fund Index. Despite a drop in the Dow Jones Industrial Average, Nasdaq and S&P 500, hedge funds still climbed slightly upward.

Managing Principal Charles Gradante of Hennessee said the uptick was a signal of 2004’s first correction being completed. He did warn that despite a positive job outlook, the speculation of oil prices might wind up reducing their strength.

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