Investing May 9, 2003

S&P: Hedge Fund Index Up 1.06% in April

May 9, 2003 (PLANSPONSOR.com) - The S&P Hedge Fund Index was up 1.06% in April as three out of four components recorded positive returns.
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The Index has now returned 3.56% for the year, compared to the S&P 500 Price Index’s 8.10% April return and 4.22% year-to-date results, according to a news release.

Leading the way for the month was the 2.39% gain in the Directional/Tactical sub-index, which is now up 5.37% year to date.   Following this performance was the Event-Driven sub-index, up 1.44% for the month and 3.64% for the year.

On the other side was the negative 0.65% turned in by the S&P Arbitrage Index.   However, for the year, Arbitrage is still in the black, up 1.68%.

S&P’s March addition, the S&P Managed Futures Index,  was also higher in April, turning in a 0.84% return.   For the year, Managed Futures remain positive, up 6.53%.

The Managed Futures index is   designed to be an investable benchmark focusing on trading methodologies that constitute a significant portion of the managed futures investment strategies, according to the news release.   T he Index has 14 constituents, four of which are also constituents of the S&P Hedge Fund Index, which was launched in November (See    S&P Introduces Hedge Fund Index).

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