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Credit Suisse/Tremont monthly commentary: Managed futures and event driven best performers in April

Friday, May 21, 2010
Opalesque Industry Update - A new monthly commentary offers insight into April hedge fund performance. Some key findings from the report include:

  • Nine-out-of-ten strategies in the Index posted positive returns in April as volatility increased in global equity markets, with Dedicated Short Bias the only negative performer.
  • Event Driven and Managed Futures managers were tied as the best performing strategies in the Index in April, each with gains of 1.89%.
  • For Event Driven managers, gains were largely due to individual positions in idiosyncratic situations, such as corporations that may have recently completed restructurings or exited from bankruptcy and other holdings involved in acquisition investments.
  • Also of note, the high yield credit market posted its 14th month of consecutive positive returns, despite the European sovereign debt concerns and rising Treasury rates. Many relative value managers in strategies such as Fixed Income Arbitrage and Convertible Arbitrage were able to capitalize on the unusual mix of tightening credit markets, flight-to-safety behaviors and higher levels of volatility.

Credit Suisse Tremont Index LLC industry commentaries and publications are available on the Research section of www.hedgeindex.com

- FG

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