The Morningstar 1000 Hedge Fund Index fell 0.1% in the first quarter, and the Morningstar MSCI Asset-Weighted Hedge Fund Composite Index rose 0.5%.

In March, while equity mutual funds surged, hedge funds failed to take the same advantage, with the 1000 Hedge Fund Index rising 2.1% in the month, and the asset-weighted index increasing 0.1%.

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