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Komfie Manalo, Opalesque Asia: Hedge funds posted slights gains for April, with the HFRX Global Hedge Fund Index and the HFRX Absolute Return Index both gaining 0.09%, data provider Hedge Fund Research said in its monthly report.
Also reporting positive numbers were macro strategies with the HFRX Macro/CTA Index returning 0.46% last month from gains in systematic trend-following managers and emerging markets strategies. The HFRX Macro Systematic Index gained 0.40% as European and most emerging markets experienced gains, the US Dollar rose against most currencies. Energy, aluminum and most agricultural commodities posted gains for the period.
Across the markets, the global financial space posted mixed performance during the same period US interest rates increased and oil reached the highest level since 2014. US equities were little changed for the month as earnings season began, with sector gains led by energy and oil services. European and Asian equities gained led by France, Italy and the UK.
The report said, "Oil led commodity gains, reaching a three years high; commodities aluminum, wheat and hogs also gained. US interest rates rose on continued economic strength as the yield on the US 10-year bond surpassed 3%, while the US dollar gained against most currencies including the Swiss franc, euro, British pound, Brazilian real, and Russian rouble.
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