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Alternative Market Briefing

Hedge funds report mixed results in April as weak technology drags performance

Thursday, May 08, 2014

Komfie Manalo, Opalesque Asia:

The hedge fund industry sustained a slight decline in April as technology exposure ragged the gains registered in Fixed Income-based Relative Value Arbitrage and Macro strategies, according to data released by Hedge Funds Research.

The HFRI Fund Weighted Composite Index posted a decline of -0.17% last month, the second consecutive decline for the HFRI, bringing index performance YTD through April to +0.9%. The declines in March and April mark the first time the HFRI has posted consecutive monthly declines since April-May 2012.

"Technology exposure continues to be an important cornerstone of hedge fund performance generation, with significant, core holdings across large cap and early stage ventures, and the commitment of the hedge fund industry to the technology space will not be affected by recent volatility," stated Kenneth J. Heinz, President of HFR.

He added, "Not only have technology-focused hedge funds posted annual gains in each of the past 5 years, but have outperformed both the S&P 500 and Nasdaq Composite since the beginning of 2007, with less than half of the volatility. Hedge funds are able to bring tremendous value to investors in the technology space through the combination of rigorous fundamental valuation analysis, as well as efficient tacti......................

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