"Hedge funds surged in April thanks to a bounce back in equity markets. After a rough March put many managers in the red for the year, a strong April wiped out funds' losses."
"Izzy Englander's Millennium Management returned 2.7% in April, bringing the $84.2 billion hedge fund's gains to 3.6% for the year so far."
"Multistrategy managers like those mentioned above trade different asset classes around the world and are known for the tight risk limits as much as their investing prowess."
"While more concentrated funds may have had banner months, these managers did not come close to matching the S&P 500 index's more than 10% gain in April."
Hedge funds experienced a significant recovery in April, reversing losses from a challenging March. The S&P 500's more than 10% gain in April outpaced most hedge funds. Notable performances included Millennium Management with a 2.7% return, Citadel's Wellington fund up 1.4%, and ExodusPoint gaining 4%. Multistrategy managers, known for their risk management, did not match the S&P's rally but avoided severe losses in March. The S&P 500 is up over 5% year-to-date, indicating a volatile market outlook.
Read at www.businessinsider.com
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