April Hedge Fund Returns

Hedge Funds Gain 0.8% in April 2010, Trail March Returns

Hedge funds made mostly positive returns in April 2010.  Like the previous month, however, hedge funds lagged behind broader markets.  Hedge funds on average gained 0.8% in April, short of March’s average, and smaller than the S&P500 which gained 1.57% in April.

As in March, hedge funds in April posted broadly positive returns. And as in March, hedge funds again trailed the broader markets, according to Hedge Fund Research.

The average hedge fund rose 0.8% last month, the HFRX Global Hedge Fund Index shows. That’s well behind March’s 1.38% return and also lagged the Standard & Poor’s 500 Index, which rose 1.57% in April.

Year-to-date, the benchmark is up 2.45%, well behind the S&P500, which is up 7.05% on the year.
As in March, almost all strategies were in the black. Just two, in fact, posted losses: Equity market-neutral funds shed 0.38% (up 0.63% year-to-date) and macro funds dropped 0.7% (down 0.1% YTD).

Leading the way last month were distressed securities funds, which added an average of 2.25% in April (7.67% YTD—the only HFRX index currently ahead of the S&P500). Multi-strategy relative-value arbitrage funds also had a strong month, adding 1.79% (6.86% YTD). Source

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