Friday, 26 August 2016
Last updated 2 hours ago
May 14 2008 | 1:29pm ET
Investable hedge funds swung back into the black last month, but remain mired in red year-to-date.
The RBC Hedge 250 Index returned 1.02% in April, based on estimated returns, but it remains down 2.48% on the year after losing 2.55% in March.
Eight of nine RBC strategies were in positive ground last month, led by mergers and special situation, which rose 1.91%. Still the strategy remains down 5.4% on the year, the second-worst performance behind multi-strategy, which are down 6.63% this year after rising 0.76% in April.
Other strong April performances were turned in by equity long/short (1.65% in April, down 1.99% year-to-date), fixed-income arbitrage (1.29%, down 1.51% YTD) and macro (1.25%, up 2.37% YTD).
The only strategy to lose money last month was managed futures, which dropped 1.21%. Still, it remains the best performer on the year at 7.65%.