Hedge Funds Add 0.72%

May 6 2013 | 3:12pm ET

Hedge funds posted broad gains in an April that saw the average industry player add 0.72%, according to a major index.

The Dow Jones Credit Suisse Core Hedge Fund Index is up 2.82% on the year. By contrast, the Standard & Poor's 500 Index is up by double-digits, after rising 1.81% last month.

Managed futures was the strongest strategy tracked by Credit Suisse in April, rising 2.62% (6.13% year-to-date). Emerging markets funds added 0.9% (2.28% YTD), event-driven funds 0.76% (4.39% YTD), convertible arbitrage funds 0.75% (2.81% YTD), global macro funds 0.6% (1.44% YTD) and long/short equity funds 0.06% (3.97% YTD). Fixed-income arbitrage was the only strategy to lose ground, falling 0.01% on the month (down 0.93% YTD).

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