HFN: Hedge Fund Return 1.55%, Assets Continue To Rise

May 12 2010 | 2:54am ET

Hedge funds saw inflows for the 11th month out of 12 and posted strong investment performance in April, according to a report from HedgeFund.net.

Early estimates have the HFN Hedge Fund Aggregate Average up 1.55% on the month and 4.35% on the year. The Standard & Poor’s 500 Index was up 1.58% and 7.05% over the same periods.

According to HFN, hedge fund performance in April was driven by long equity exposures, with those funds focusing on small- and micro-cap funds doing the best. The average stock fund rose 1.76% on the month, while fixed-income hedge funds turned in an average return of 1.24%.

The strongest strategy last month was  technology, which jumped 3.96% on the month (6.85% year-to-date). Corporate bond funds (2.13% in April, 4.8% YTD), oil and energy-related commodity funds (2.08% in April, 2.75% YTD) and agriculture funds (1.85%, down 0.82% YTD) also did well.

Regionally, the early returns show strong Aprils for both Indian and Japanese hedge funds at 4.4% (7.36% YTD) and 3.14% (9.57% YTD), respectively. The Middle East and North Africa was the only region to see an average decline for its hedge funds, down 0.33% (but still up 8.9% on the year).

Meanwhile, investors continued to reward hedge funds for their positive performance with $7.67 billion in net inflows last month. Combined with $28.52 billion in performance increases, hedge fund assets rose 1.6% last month to $2.299 trillion.

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