Credit Suisse Index Co President Oliver Schupp, announcing April’s performance results for the Credit Suisse/Tremont Hedge Fund Index, noted that hedge funds are beginning to recover, particularly those opting for convertible arbitrage methods. The index rose 1.68% during the course of April with eight of the index’s ten sub-sections reporting improved results in comparison to March.
Mr. Schupp commented: “Hedge funds finished up 1.68% in April, bringing year-to-date returns to 2.55%. We’re seeing risk appetite return to markets along with increased investor confidence, which benefited most hedge fund sectors last month. Convertible Arbitrage had another strong month, gaining 4.52% in April, and is currently up 12.58% year to date.”
“Nonetheless, while economic data does appear to be improving, market conditions remain tenuous. Most hedge funds continue to maintain their defensive positioning, and we expect to see this trend continue until fund managers feel that market fundamentals have improved.”
The Credit Suisse/Tremont Hedge Fund Index, based on ten sub-strategies, Convertible Arbitrage, Dedicated Short Bias, Emerging Markets, Equity Market Neutral, Event Driven, Fixed Income Arbitrage, Global Macro, Long/Short Equity, Managed Futures, Multi-Strategy, is calculated monthly.
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