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May 09, 2005 at 08:00 PM
NEW YORK (HedgeWorld.com)–Everyone took a soaking from the showers of April. The returns from last month were negative for each of the six hedge fund categories tracked by Dow Jones indexes.
The convertible arbitrage strategy lost the most (3.73 %), followed by equity long/short (U.S.), event-driven, merger arbitrage and equity market neutral, which lost 1.9%, 1.01%, 0.92% and 0.47%, respectively.
In this context, distressed securities might claim something of a victory at having lost the least, a mere 0.31%.
On a year-to-date basis, too, convert arb has the worst of the numbers from Dow Jones Indexes and STOXX Ltd. It has lost 6.89% in 2005. Equity long/short (U.S.) has lost 3.49%.
