Multistrategy: Firing on all cylinders


With every strategy tracked by Absolute Return in positive territory in April, multistrategy managers were well positioned to ride the tide. The Absolute Return Multistrategy Index climbed 1.47% for the month to total 7.51%. One particularly strong driver of performance: U.S. merger arb, which in April alone benefited from a deal flow of more than 300 transactions valued at roughly $100 billion. DKR International Relative Value Fund had a notable month, posting a gain of 1.71% to total 7.54%. DKR's event-driven, merger arbitrage, convertible arbitrage and long/short equity strategies all contributed to the rise. Highbridge Capital climbed 1.82%,