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Alternative Market Briefing

Event Driven/Activist strategies lead hedge funds up almost 10% YTD

Tuesday, May 14, 2019

Laxman Pai, Opalesque Asia:

Hedge funds gained an average of +1.26% in April, the fourth consecutive month of positive returns, following a five-month string of aggregate declines closing out 2018.

According to eVestment April 2019 hedge fund performance data, the YTD 2019 industry average gains of +6.52% lag a global balanced benchmark but represent the industry's best first four months since 2006, when aggregate gains were +7.62%.

Among primary strategies, Event Driven - Activist strategies were big winners in April and YTD 2019, returning an average of +2.79% last month and +9.94% so far this year.

The report said that this is a noticeable turnaround from 2018, when Event Driven - Activist funds were deep in the red at -10.30%.

Managed futures funds again produced big gains in April, returning an average of +2.03%, bringing Q1 2019 returns to +4.66%. The group still has a way to go to offset 2018 average losses of -6.06%. The 10 largest funds in the space returned an average of +3.02% in April and are +6.77% YTD.

Long/Short Equity funds were another big winner in April, returning +1.79% last month and +9.84% YTD. As with Event Driven - Activist funds, Long/Short Equity funds are seeing a marked turnaround from their -7.03% performance in 2018.

Russia-focused funds gained the most of any emerging markets segment in April, returning an average of +2.61%, bringing YTD returns to 11.10%.

China-focused funds underwhelmed in April with +0.7......................

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