GLOBAL - Dedicated short bias strategies continued their poor run in April, plunging -7.59% month-on month, according to the CSFB/Tremont Hedge Fund Index.
In April the strategy registered -6.36% performance, caught out by sudden rallies in global equity markets and a lack of shorting opportunities.
Overall, the index was up 1.96% last month with emerging markets posting the best performance, up 3.89%.
Oliver Schupp, president of CSFB Tremont Index, said: “Better than expected earning reports led global equity markets significantly higher in April, resulting in strong gains for the equity oriented strategies.” Distressed funds are on top year-to-date, up 8.72% for the year.Performance for index and the ten style-based sector indices is calculated monthly.
April, March and year-to-date returns for all categories are listed below and at www.hedgeindex.com.
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