Fixed income: Modest rise


Treasury bills rallied strongly in April, while corporate credits advanced modestly. In that environment, the Absolute Return Fixed Income Index gained 0.53% to total 2.70% YTD. Outperformers included Louis Bacon’s Moore Global Fixed Income Fund, which climbed 2.53%, and Ellington Overseas Partners, up 1.47%. The Platinum Grove Contingent Capital Fund netted 0.83% to reach 4.48% for the year so far. Grossman Fixed Income Fund couldn’t get out its rough patch, having logged only two positive months in the past 12. In April, the fund lost 0.58%, dragging its YTD return down to -2.31%. GMO Fixed Income Hedge also