Hedge Funds Fall 0.73% In April

May 5 2014 | 2:41pm ET

The chill felt by hedge funds in March did not abate last month; in fact, things were downright frigid for the average industry player in April.

The HFRX Global Hedge Fund Index fell 0.73% last month, according to Hedge Fund Research. The Standard & Poor’s 500 Index went the other way, rising about 0.7% on the month.

April’s loss left the HFRX benchmark up just 0.38% through the first third of the year.

Twelve of the 16 strategies and substrategies tracked by the HFRX suite lost ground in April, none more so that emerging markets, which shed 2% (down 2.38% year-to-date). Fundamental growth funds shed an average of 1.82% (up 1.73% YTD), equity hedge funds 1.42% (down 0.19% YTD), fundamental value funds 1.38% (down 1.17% YTD) and convertible arbitrage funds 1.34% (up 0.77% YTD). Special situations funds dropped 0.87% (up 1.86% YTD), event-driven funds 0.68% (up 2.12% YTD), systematic diversified commodity trading advisors 0.66% (down 3.59% YTD), CTAs overall 0.56% (down 1.59% YTD), fixed income funds 0.34% (up 2.06% YTD), distressed restructuring funds 0.19% (up 3.15% YTD) and relative-value arbitrage funds 0.16% (up 0.78% YTD).

The four winners? Master-limited partnerships (up 2.28% in April, 7.31% YTD), equity market neutral funds (0.55%, 2.66% YTD), merger arbitrage funds (0.11%, 0.56% YTD) and multi-strategy funds (0.1%, 0.78% YTD).


In Depth

An Interview With Harvest Volatility Management's Rick Selvala

Mar 23 2017 | 5:39pm ET

Several years of extremely low interest rates have pushed some investors into equities...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

SEI: Private Debt Coming Into Its Own

Mar 8 2017 | 9:24pm ET

The explosive growth of private debt over the past few years has caused the lines...

 

From the current issue of