April Rain Can’t Stop Hedge Funds’ Parade

May 8 2009 | 10:31am ET

Hedge funds posted positive performances in April as the rally in the equity markets helped buoyed the industry for the second straight month.

The HFRI Equity Hedge Index posted a 6.42% gain for the month, bringing its year-to-date gains to 6.12%. The Event Driven Index was up gaining 3.79% (4.19% YTD) and the Relative Value Index was also in positive territory, up 3.09% (7.19% YTD).

Other indices that didn’t fare as well last month include the Macro Index (-0.44%, -1.35% YTD) and the Short Bias Index (-7.5%, -5.46% YTD).

The HFRI Fund of Funds Composite Index gained 0.66% last month and is up 1.13% YTD. Emerging Markets also performed well gaining 7.95% in April and 9.14% for the year.

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