Preqin All Strategies Hedge Fund Benchmark Rebounds Strongly In April
Following substantial losses in March, hedge funds made strong gains in April as global equity markets rebounded. The Preqin All-Strategies Hedge Fund benchmark returned +6.42%, compared with -9.20% the previous month.
April's performance bumped the 2020 YTD figure up to -4.99% and the 12-month return to -1.21%. Event driven strategies were the best performing top-level strategy in April, returning +8.11% and pushing their 2020 YTD and 12-month returns to -9.41% and -7.73% respectively. Equity strategies followed closely (+7.71%), but credit strategies returned only +2.34%. Macro strategies reversed March’s loss (-3.84%) by gaining +4.31%, pushing their 12-month return to +5.59% – the highest of all top level strategies.
Managed Futures Strategies had another month of gains (+0.65%), and are the only fund type with a positive 2020 YTD return (+2.06%). Discretionary CTAs drove this trend, gaining +1.64% in April and pushing their 2020 YTD and 12-month returns to +6.81% and +9.65% respectively.
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