HFR Hedge Fund Index Rebounds in April After Decline in March

Bloomberg – Hedge fund returns rebounded in April after starting the year with the worst performance in nearly two decades, according to early results from Hedge Fund Research Inc.

Overall hedge fund returns increased 1.5 percent for the month ended April 28, according to Chicago-based Hedge Fund Research’s Global Hedge Fund Index, updated daily with a two-day delay. Funds dropped 2.46 percent in March and 3 percent in the first three months of the year, according to HFR’s Weighted Composite Index.

Hedge funds, which can bet on gains or declines in security prices, benefited as stocks rose in April. The Standard & Poor’s 500 Index gained 5.2 percent in April. Volatility eased from March, when it was the highest in five years.

“Clearly, April has seen some kind of relief from the unrelenting bad news we were seeing in the January through March period,” said Paul Ross, head of Iveagh Asset Management, the investment arm of the Guinness family brewing fortune. “April has been much calmer.”

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