Funds of Hedge Funds Performance

Mixed results for FoFHs in European stock rally

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European equities performed particularly strongly during the rally, but equity fund of funds performance was varied.

The best performer in April was Key Europe, up 3.9% on the month to bring three-month returns to 3.34%. Towards the end of last year manager Philippa Owen raised cash levels in the fund and has been putting some of these assets back to work, particularly in more trading-oriented managers, as well as those able to be opportunistic in terms of their net exposure.

HSBC European AdvantEdge was up 1.66% to leave three-month figures at 1.15%, while Lynx Selection Holdings gained 1.11%, putting