The Credit Suisse/Tremont Hedge Fund Index, a widely-used gauge of hedge fund performance, rose 1.82% in March and 5.46% in the first three months of 2006, its best quarter since the end of 2004.

Hedge fund indices published by data provider Barclay was up 6.1%, while rival Hedge Fund Research's index was up 5.9% and HedgeFund.Net up 5.6% for the first three months.