April’s gain marks the Index’s sixth advance in the past seventh months and was significantly better than the 0.5% increase recorded in March (See Van Global Hedge Fund Up In March ). Year-to-date, the Index is now up 3.8% net of fees, according to a news release.
Major stock indexes also did well, turning in their best performance since last fall on the heels of successful military operations in Iraq. The S&P 500 increased 8.2% while the Dow climbed 6.3%. For the year, the S&P 500 is up 4.8%, while the Dow is 2.4% in positive territory.
The Van Index tracks performance of the hedge fund universe dating back to January 1988. The Index is based on hedge fund performance after the deduction of all hedge fund fees and expenses. Van notes that the preliminary March figure is the average of approximately 250 fund returns. Excluding the performance of funds of funds, the Index rose 3.2% net.
An updated April Van Index, based on a larger sample of funds, will be released in mid-May. Final results for April will be available at www.hedgefund.com at the end of May.
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