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Opalesque Roundup: Larger funds outperformed smaller and mid-sized funds in April: hedge fund news, week 17

Saturday, May 14, 2022

In the week ending May 13th 2022, several hedge fund databases reported mixed results for April. eVestment said April was a difficult month in the investment/financial markets, and the global hedge fund business was no exception, with the aggregate industry return at -1.68% for the month, dragging year to date (YTD) returns further into the red at -2.59%.

Barclay Hedge Fund Index echoed the same result saying the hedge fund industry gave up ground in April, down -2.66% for the month. For the year to date interval, the hedge fund industry remained underwater with a compounded return of -5.55% through April.

The Eurekahedge Hedge Fund Index too declined -0.50% in April 2022, outperforming the S&P 500 which fell -8.80% over the same period. Global equities posted steep losses in April as the continuation of the Russia-Ukraine war, global monetary policy tightening and continued supply chain disruptions exacerbated by the lockdowns in China dampened market risk sentiment and fueled stagflation fears.

On the other hand, HFR said larger funds outperformed smaller and mid-sized funds in April. Its HFRI Asset Weighted Composite Index gained +2.3 percent for the month, increasing its YTD return to +4.2 percent. This accelerated an unprecedented hedge fund outperformance trend driven by powerful, broad- based gains across Macro sub-strategies.

In performance news, Carl Icahn's investment portfolio posted a 9.6 percent gain in the first quarter - the octogenarian acti......................

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