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May 10, 2004 at 08:00 PM
NEW YORK (HedgeWorld.com)–April was not a good month for many of the hedge fund strategies in the S&P Hedge Fund Index, which fell 0.6% in April and is up just 1.28% in the first four months of the year.
The index, published and managed by Standard & Poor’s, was hurt by sharply negative performance from the component S&P Directional/Tactical Index, which fell 2.69% in April. For the year through April, the Directional/Tactical Index, which contains futures, global macro and long/short equity strategies, returned 0.41%.
The S&P Managed Futures Index, a related index that contains the futures strategies in the broader index and additional futures fund strategies, was down 8.02% in April, bringing its year-to-date return to negative 0.25%.
The S&P Arbitrage Index, a component of the S&P Hedge Fund Index containing equity market neutral, fixed-income arb and convertible arb strategies, returned 1.04% in April and is up 1.65% year-to-date through April.
