Funds of hedge funds began the second quarter with a 0.5%
median gain for April, the sixth consecutive month of positive
returns for the InvestHedge Composite Index. The index was up
by 2.3% for the year through April, marginally behind single
manager hedge funds that were up by 0.6% for the month and 2.7%
for the year.
Emerging markets-focused FoHFs were the strongest performers
for the month and for the year to date, with gains of 1.3% for
April and 5% for the year. Every fund in the category finished
the month in positive territory, on both a monthly and yearly
basis with returns ranging from 0.1% to 3% for the best
performing funds. The Brown Advisory Hedged Emerging Markets
Fund led the peer group with a...