Sunday, 30 April 2017
Last updated 1 day ago
May 7 2009 | 10:56am ET
Three of the five hedge fund strategies published by Dow Jones Hedge Fund Indexes posted losses in April.
Merger arbitrage moved out of the top spot on a year-to-date basis falling 29 basis points for the month, lowering its 2009 return to 2.34%. Equity long/short fell nearly half a percent and is -1.01% for the year and equity market neutral rounded out the benchmarks with a loss of 85 basis points, increasing its YTD loss to -2.72%.
Event driven, the strongest performer for the month, nearly broke 1% in gains, and now sits atop the other strategies for the year with a 3% return. Conversely, despite a modest 0.35% gain for April from distressed securities, the benchmark remains a distant laggard among the strategies for the year, returning -9%.
Convertible arbitrage was suspended on Jan. 2 and remained suspended through the month of April.