|Eurekahedge North American Hedge Fund Index
|Eurekahedge European Hedge Fund Index
|Eurekahedge Eastern Europe & Russia Hedge Fund Index
|Eurekahedge Japan Hedge Fund Index
|Eurekahedge Emerging Markets Hedge Fund Index
|Eurekahedge Asia ex-Japan Hedge Fund Index
|Eurekahedge Latin American Hedge Fund Index
Negative returns in April affected most regional hedge funds as market sentiment became more risk-averse leading to declines across global markets. After a short few months of strong growth, attention returned to European debt issues, soft US economic data and slowing Chinese growth. Although most regional hedge fund indices ended the month in the red, they delivered notable outperformance to their respective underlying market indices.
The Eurekahedge North American Hedge Fund Index finished the month dropping by 0.07%, beating the S&P 500 by 0.68%. Managers with positive returns banked on upbeat corporate earnings and the end of April saw a surge caused by speculation of further stimulus from the US Federal Reserve. European hedge funds provided significant outperformance during the month with declining only 0.23% while the MSCI Europe Index lost 2.91%.
Emerging market hedge funds were up 0.54% in the month, bucking the trend from other regions and underlying markets and the MSCI Emerging Markets Index was down 0.96% in April. Latin American hedge funds once again delivered substantial outperformance with gains of 1.09% while the Brazil IBovespa saw sharp losses of 4.17% while the Eurekahedge Latin American Hedge Fund Index shot up 6.45% by end-April 2012.