Greenwich: Futures, Equity L/S, Emerging Markets Strong In April

May 22 2007 | 12:33pm ET

Hedge funds couldn’t keep up with equities in April, as the stock market rally left hedge fund returns in the dust, according to the Greenwich Global Hedge Fund Index.

After a slow start to the year, the Standard & Poor’s 500 roared back with a 4.43% return last month, while the Greenwich index rose just 2.04%. Worse still for hedge funds, they now trail the S&P year-to-date, according to the index, 4.81% to 5.09%.

None of the more than 20 strategies and substrategies tracked by Greenwich Alternative Investments topped the S&P in April—futures funds came closest, returning 4.42% on the month—though several remain ahead year-to-date, not including futures, which clawed back into the black this month to reach just 1.72% year-to-date.

Bolstered by the strong stock market, long/short equity strategies were among Greenwich’s top performers. Opportunistic funds rose 2.73% (6.2% YTD), value funds 2.13% (5.44%) and aggressive growth funds 2.05% (5.14% YTD). There was, of course, one exception: short selling, which took a big hit, dropping 2.91% (-3.03% YTD). On the bright side, it was the only Greenwich strategy to post a loss last month, and is the only one in the red year-to-date.

Emerging markets have thus far taken the top spot as the best-performing strategy in 2007, with a 3.35% return last month (7.27% YTD).


In Depth

Debunking Conventional Investment Wisdom

Feb 8 2017 | 3:22pm ET

Due diligence in the hedge fund world has long involved some combination of the...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Future of Private Equity: New Opportunities, New Challenges

Feb 3 2017 | 6:41pm ET

The private equity industry’s astonishing rebound since the financial crisis has...

 

From the current issue of