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Investors poured money into hedge funds in April

Wednesday, May 11, 2011
Opalesque Industry Update - Hedge funds returned an average of 2.05% in April 2011 and the rate of net investor inflows was again above the 2010 average.

Below are early estimates for April hedge fund performance and asset flows. A full report will be available later in the month.

April Highlights:

The equal weighted HFN Hedge Fund Aggregate Index was +2.05% in April 2011 and +3.45% year-to-date (YTD). The S&P 500 Total Return Index (S&P) was +2.96% in April and +9.06% in the first four months of 2011. Hedge fund assets increased an estimated 2.27% in April to $2.607 trillion. Investors added a net $14.2 billion during the month for a core growth rate2 of 0.56%. This is a slight increase from March and well above the average for 2010.

Overall hedge fund industry performance was strong in April. Commodity strategies housed the majority of above average returns. Commodity (non-FX), FX and financial futures focused funds performed best posting +4.92%, +4.71% and +4.14% for the month, respectively. Notably, these groups were generally flat coming out of Q1 2011. CTA/managed futures funds accounted for the ten highest Outlier ratios3 in April, an indication that returns from many of these strategies were well outside their norms. Seven of the ten highest ratios were FX focused strategies. Emerging markets strategies were mixed in April. Funds investing in the MENA region, Brazil and China led the EM group. India funds continued to post losses, -0.47% in April and -7.64% for 2011; Russia funds were the worst performing regional classification in April, -3.59% and +2.24% YTD.

Japan focused funds reported another down month at -1.28% pushing them into negative territory, -0.96%, for the year.

Equity slightly outperformed credit strategies during the month. Healthcare and financial sector equity funds were among the top performers up +2.75% and +1.71% in April. Mortgage strategies continued to post positive results, +1.52% in April and +7.15% YTD.



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