The Dutch Hedge Fund Index ended April 1.12% lower – more than the DB (-0.24%) and Lyxor Hedge Fund Indices (-0.02%) for the month but still positive for the year (+2.29% Ytd).
April’s performance is a result of the weighting to Long/ Short Equity managers within the Index and more specifically the geographic focus of these managers.
Most managers tend to invest close to home and focus on European companies they know well and have an edge.
Macro economic sentiment however punished European bourses hanging Grexit and whatmore.
US and Asian markets posted much better numbers in April.
Correlations in Europe between companies and sectors crept back up as shares went down, making it difficult for fundamental stock pickers.
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