With this April proving to be the S&P 500s best
month in three years the index rose 4.4% it is
owing to a defensive posture that U.S. long/short equity funds
fell well short of that return, with the Absolute Return U.S.
Equity Index gaining 1.77% for the month to total 4.43% YTD.
Global equity funds fared better, though they still trailed the
broader markets. The Absolute Return Global Equity Index gained
2.40% in April,...