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FAIRFIELD, Iowa, May 17, 2016 – Hedge funds gained 1.05% in April according to the Barclay Hedge Fund Index compiled by BarclayHedge. Year to date, the Index is up 0.07% as April’s gain moves it into positive territory for the first time this year.
Overall, 12 of Barclay’s 18 hedge fund indices gained ground in April. The Event Driven Index was up 2.40%, Distressed Securities gained 2.41%, Healthcare and Biotechnology was up 2.14%, Convertible Arbitrage gained 1.81%, and Emerging Markets added 1.27%.
“Improving trade data out of China, strengthening exchange rates for commodity linked currencies, a strong rally in high yield bonds, and a 20 percent surge in the price of crude oil provided ample impetus for the profitable hedge fund strategies in April,” says Sol Waksman, founder and president of BarclayHedge.
In the loss column, European Equities were down 0.90%, Equity Short Bias lost 0.83%, the Equity Market Neutral Index gave up 0.61%, the Pacific Rim Equities Index lost 0.63%, and Merger Arbitrage was down 0.24%.
“Although global equity markets moved higher on the month, the dispersion of the returns of different sectors was quite high,” says Waksman.
“Big name stocks with large hedge fund followings such as Apple and Microsoft also performed poorly in April.”
After four months in 2016, ten of Barclay’s hedge fund indices are in negative territory, while eight are showing gains.
The Healthcare and Biotechnology Index is down 8.52%, European Equities have lost 5.89%, Pacific Rim Equities are down 3.50%, the Equity Long/Short Index has lost 2.22%, and Technology is down 2.29%.
On the positive side, Equity Short Bias has gained 3.37% year to date, the Event Driven Index is up 2.68%, Merger Arbitrage has gained 1.92%, and Emerging Markets are up 1.76%.
The Barclay Fund of Funds Index gained 0.36% in April, but remains down 2.95% year to date.
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Sol Waksman is an experienced media source, providing perspectives on hedge fund and managed futures trends. For more commentary or background, call 641-472-3456 or email swaksman@barclayhedge.com.
BarclayHedge is the global leader in providing independent, research-based information services to the alternative investment industry. Founded in 1985, Barclay currently maintains data on more than 6,300 hedge funds, fund of funds, and CTAs. No one has been in the business of collecting alternative investment data longer than BarclayHedge.
Institutional investors, brokerage firms, and private banks worldwide utilize BarclayHedge indices as performance benchmarks for the hedge fund and managed futures industries.
