Hedge fund performance was broadly positive in April, with 85 per cent of funds reporting to eVestment seeing positive performance figures and the industry as a whole posting a return of +2.61 per cent for the month, according to the just-released April 2021 eVestment hedge fund performance data. 

Hedge fund performance was broadly positive in April, with 85 per cent of funds reporting to eVestment seeing positive performance figures and the industry as a whole posting a return of +2.61 per cent for the month, according to the just-released April 2021 eVestment hedge fund performance data. 

Year to date (YTD) average performance for the industry stands at +7.61 per cent, which is a fairly good relative return when looking across global equity and fixed income markets, says to eVestment Global Head of Research Peter Laurelli.
 
Commodity-focused hedge funds scored some of the strongest returns, with average returns for Commodity funds standing at +6.71 per cent in April. Following a dip into negative territory in March after a strong start to the year in January and February, Commodities-focused hedge funds are returning an average of +5.62 per cent for the year.
 
Following a decent March, there were some positive signs coming from some of the industry’s largest products, which had been an area of concern. The nine out of the 10 largest reporting hedge funds were positive during the month and the group produced their best average monthly return, +3.72 per cent, since at least 2015. Among the 10 largest hedge funds, all except for one product is positive for the year now. 

“Though a handful are performing what would normally be considered relatively well through four months of a year,” says Laurelli, “none of these largest funds are outperforming the industry aggregate.”