Funds of Hedge Funds Performance

Mixed results for FoFHs in European stock rally


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