Beverly Chandler, Opalesque London: Eurekahedge reports that the start of April witnessed some profit taking from the equity markets amid some disappointing global economic data. The result was that the S&P 500 dipped below the 1550 mark by mid-month amid news of less-than-expected Chinese growth hit global markets. However, hedge funds posted positive returns over the month with the Eurekahedge Hedge Fund Index up 1.09% during the month, while the MSCI World Index gained 2.02% in April.
Eurekahedge writes: "The markets however, brushed off initial disappointment amid the earnings season, some positive economic data from the US and the installation of an Italian government in Europe. Most major hedge fund investment regions delivered positive returns for the month, with Japanese managers posting the strongest returns for yet another month."
The Eurekahedge Japan Hedge Fund Index was up 4.22% in April, bringing its year-to-date return to 15.87% and extending their winning run to eight consecutive months - making it the longest winning streak on record for Japanese funds. The Nikkei 255 was up 11.8% during the month.
Asia ex-Japan managers also delivered positive returns in April with gains of 2.37%, outperforming the underlying markets for the second consecutive month as the MSCI Asia ex Japan Index was up 1.87% during the month. Managers investing in India witnessed the strongest returns with an average g......................