The year continues benignly with a rally in April that boosted equity biased hedge funds, leaving the InvestHedge funds of funds Composite up 0.45% in April and year-to-date returns up 1.10%. The equity returns were also helped by a decline in volatility that meant global macro was the only median down in April, by 0.4%. The more settled environment meant global macro was also the negative year-to-date return, at -0.3%. Global multi-strategy followed closely in April, up 0.5% and 1.49% for the year.
Global and European equities had a good month - up 0.9% and 0.82%, respectively, taking