Hedge funds up by 1.73%; positive returns for 10 consecutivemonths
Eurekahedge Islamic Fund Index 1.62 2.38 9.53
Most regions delivered positive performance during the month, with theexception of Japan hedge funds. Asia ex-Japan managers led the waywith returns of 1.63%, an outperformance to underlying markets. Majormarket indices such as the SSE Composite, ASX and the Sensex finishedthe month in negative territory; -0.57%, -0.30% and -1.59%respectively. Gains were posted through SEA exposure and strongcorporate activity in the region — the MSCI South East Asia Index was up4.27% in April.North American and European hedge funds also witnessed healthyreturns, gaining 1.50% and 0.97% in April. The month started off withpositive movements in the markets, however the trend reversed mid-month after the announcement of S&P’s revised outlook on US sovereigndebt. Markets rebounded on the back of strong corporate earningsannouncements and expectations of continued low interest rate in the USas well as the successful placement of European government bonds —the S&P500 was up 2.61% in April while the MSCI Europe Index gained2.64%.
Table 2: Regional Indices
Index Apr 2011