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Komfie Manalo, Opalesque Asia:

Hedge funds serviced by Peregrine Holdings’ unit Peregrine Capital performed fairly well in April. The consecutive gains in March and April meant another step closer towards negating the cumulative losses sustained over the calendar year.

In a report, Peregrine said that while market sentiment remained positive for the most part, the All Share Index did tail off a little from the previous month during the early stages but saw the strength renewed around the midway point, finishing the month up +1.17% (+5.6% YTD). In contrast to the preceding month, this positivity was not strong enough to lift all sectors and results were mixed.

Peregrine commented, "We return now to our two primary hedge fund styles, equity long-short gained a fair +0.43% for April (post a very good +2.68% in March) while market neutrals remain firm with a good +0.95% return during April (following +1.16% in March). This translates into YTD’s as follows, equity long short at -3.0.2% while market neutrals are just shy of being positive at -0.12%."

It added that resources shook off the effects of the local currency’s continued strengthening against the dollar, and was the stand out performer for the month when one takes a closer at the sectoral indices. The sector led by a long way at +13.2% return for the month, translating directly into an even more impressive +28.1% for the YTD thus far. Lagging far behind,......................

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