The Credit Suisse/Tremont Hedge Fund Index is up 2.22% in April, according to Oliver Schupp, President of the Credit Suisse/Tremont Hedge Fund Index.
“The equity markets continued an upward trend due to ongoing corporate activity, the Bank of China’s announcement that it would raise interest rates and the manager’s exposure to energy and commodities markets contributed to the positive performance of 2.34% for Long/Short Equity managers and the strongest performing sector this month for the Emerging Market managers of 3.82% in April,” he says.
Fixed Income Arbitrage managers performed well in April with a return of 2.05%, benefiting from a change in the shape of the yield curve and a rise in the 10-year Treasury yields,” adds Robert I. Schulman, Chief Executive Officer of Tremont Capital Management, Inc. “The onset of the earnings season provided managers with an abundance of attractive opportunities through April. Levels of new issuance were healthy through the U.S. and Asia and managers remain optimistic that these levels will continue. The Convertible Arbitrage managers profited from trading around these new issues with a 0.75% return in April.”
The Credit Suisse/Tremont Investable Hedge Fund Index is up 1.77% in April.