US funds


Continuation of the 'Baghdad Bounce' in equity markets had a positve impact on all US hedge fund strategies, with global equity strategies emerging as the biggest winners in April. The Absolute Return Global Equity index produced a positive contribution of 2.60%, which was a welcome relief as it came after four months of negative numbers. US equity managers are also finding the going a little easier this year with the US Equity Index up 1.52% for April and with the median technology fund up a creditable 1.20%. Elsewhere, the Distressed and Convertible Equity Arbitrage indices performed well in