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

Don’t Overlook These 6 Hybrid Cloud Concerns

Sep 14 2017 | 6:27pm ET

Cloud-based technology solutions have made tremendous inroads into the alternative...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Cash: An Asset In Adolescence

Aug 31 2017 | 3:34pm ET

If the investment industry has a rebellious teenager in the house today, that teenager...

 

From the current issue of