Hedge Funds Add 0.69% In April As Most Strategies Rise

May 9 2013 | 12:02pm ET

Hedge funds posted broad but modest gains in April, according to Hedge Fund Research.

Just two of the 22 strategies and sub-strategies tracked by the HFRI suite lost ground last month. But the overall HFRI Fund Weighted Composite Index rose just 0.69% in an April that saw the Standard & Poor's 500 Index jump 1.8%; on the year, the gap is even wider, with the S&P500 up by double-digits and the HFRI benchmark up just 4.37%.

Systematic diversified funds led the way last month with a 2.29% return (3.44% year-to-date), followed by Asia ex-Japan funds at 1.95% (4.85% YTD) and multi-strategy relative-value funds at 1.45% (4.78% YTD). Corporate bond funds added 1.36% last month (3.88% YTD), technology and healthcare funds 1.32% (6.76% YTD), Russia and Eastern Europe funds 1.21% (2.95% YTD), convertible arbitrage funds 1.07% (4.08% YTD) and macro funds 1% (2.29% YTD).

Relative-value funds rose 0.99% (4.16% YTD), event-driven funds 0.9% (4.84% YTD), equity-market neutral funds 0.72% (2.88% YTD), asset-backed funds 0.71% (4.43% YTD), distressed and restructuring funds 0.69% (4.84% YTD), equity hedge funds 0.35% (5.39% YTD), merger arbitrage funds 0.32% (1.15% YTD) and quantitative directional funds 0.15% (4.33% YTD).

Only short-bias funds and energy and basic materials funds lost ground last month, with the former dropping 2.77% amidst the market rally (down 7.45% YTD) and the latter 1.29% (up 0.12% YTD).

Funds of hedge funds rose an average of 1.08% on the month (4.48% YTD).


In Depth

Q&A: Brevan Howard’s Charlotte Valeur Talks Strategy

Sep 18 2014 | 11:18am ET

Charlotte Valeur chairs the board of Brevan Howard Credit Catalysts, an LSE listed...

Lifestyle

Hedgies Rock Out For Children's Charity

Sep 15 2014 | 8:40am ET

It's that time of year again—when hedgies trade in their spreadsheets for guitars...

Guest Contributor

Volkered: How Financial Sector Reforms are Creating Opportunities for Hedge Funds

Sep 16 2014 | 11:28am ET

New regulations have dramatically curtailed proprietary trading activity in investment...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

September 2014 Cover

The London Whale: Rogue risk management

Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.