Equities: Powering ahead


With this April proving to be the S&P 500’s 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, up 5.13% for the year, while the MSCI World (net, ex-U.S.) climbed 4.55% to total 8.75% YTD.

Outperformers included some of the