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

Hedge Funds Take Interest In ‘Soft Deposits’

Nov 19 2014 | 11:56am ET

New York-based Winchester Equities, headed by Avi Benamu and Jack Hazan, funds soft...

Lifestyle

Cohen Buys $101 Million Sculpture

Nov 12 2014 | 9:17am ET

Steven Cohen was the sole bidder for a rare Alberto Giacometti sculpture at Sotheby...

Guest Contributor

Why The Big Money Is Going To Europe

Nov 14 2014 | 6:03am ET

Peer-to-peer lending was invented with the individual investor in mind. But despite...

 

Sponsored Content

    For Hedge Funds, Mastering Data Is Key To Success

    Nov 4 2014 | 9:45am ET

    Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

November 2014 Cover

Building a better market

Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...

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.