Hedge Fund Performance Commentary

The Eurekahedge Hedge Fund Index was up 2.16% in April, supported by the robust performance of the global equity market as represented by the MSCI ACWI (Local) which gained 3.53% over the same month. Strong corporate earnings and better than expected macroeconomic data acted as a tailwind to the performance of the equity market over the month. As fears of the COVID-19 pandemic’s impact on the recovery of the US economy lingered, the Federal Reserve reassured the market that monetary policy will be kept accommodative until the economy has made sufficient progress towards a recovery. The yield of the 10-year Treasury Note declined by 12 bp, causing a rally in interest rate sensitive tech stocks during the month.

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