Strong Markets Fuel Strong Hedge Fund Performance In April

May 10 2007 | 1:13pm ET

Hedge funds had a strong April, driven by strong equity markets, event-driven and macro strategies. Hedge Fund Research’s HFRX Global Hedge Fund Index rose 2.21% last month, and has returned 3.82% year-to-date.

Unsurprisingly, market-directional strategies did best, as the Standard & Poor’s 500 Index rose 4.43% (5.1% YTD). The HFRX Market Directional Index jumped 3.1% in April (3.61% YTD). Among individual strategies, macro rose finally turned things around, rising 2.89% on the month, though it remains down 1.53% in 2007 to date. Equity hedge and event-driven funds also posted a strong month, rising 2.77% (4.47% YTD) and 2.63% (6.72% YTD).

Of the nine strategies tracked by HFR, only volatility posted a loss last month, falling 0.46% (down 3.32% YTD).


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