The first quarter was a shaky one for Impala Asset Management's Impala Fund, which lost 15.85% through March. But the fund may be back on solid ground. The recent stock market rally took the portfolio along with it, to generate an April gain of 23.29%. That puts the fund up 3.87% (net) for the year.
In comparison, the S&P 500 lost 11.3% for the first quarter but gained 9.39% in April (for a year-to-date loss of 3.37%), while the Absolute Return U.S. Equity Index gained 0.30% in the first quarter, adding a median 2.77% in April for a year-to-date