Hedge Funds Fall Again In April

May 3 2012 | 12:56am ET

Hedge funds suffered their second consecutive down month in April, with most strategies following the broader markets into the red.

The Credit Suisse Liquid Alternative Beta Index fell 0.27% last month, cutting its year-to-date gain to 1.94%. The benchmark fell 0.83% in March.

Just one of the six strategies tracked by the suite of indices ended April in positive territory: event-driven, which added 0.73% (3.86% year-to-date). For the rest, the LAB indices were grim reading, indeed.

Merger arbitrage funds fell an average of 0.27% (down 0.01% YTD), global strategies 0.43% (up 0.6% YTD), long/short funds 1.07% (up 3.63% YTD) and managed futures 1.21% (down 1.99% YTD).

By contrast, the Standard & Poor’s 500 Index fell about 0.5% in April.

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