Two top hedge funds suffered worse-than-average Aprils, according to industry trackers.
Henderson Global Investors and Odey Asset Management all dipped more than industry indices last month. As usual, Bridgewater Associates, the world's largest hedge fund, did not: It's flagship Pure Alpha fund rose 0.41% in April.
On the other hand, the other three hedge funds are in the black for the year after strong first quarters, while Bridgewater remains down 0.41% on the year, HFMWeek reports.
Henderson lost 4%—more than four times the average hedge fund's loss—but no one seems to be complaining, in part because its European Absolute Return Fund remains up 31% this year. Odey's European Fund lost 3.04% in the first half of April, but was still up 16.07%.
Another of the first quarter's best performers, Pershing Square Capital Management, managed a (relatively) small gain in April. The firm's International Fund added 0.9% on the month and is up more than 10% this year.