Pivotal Point of View — April 2020

Published 11 May 2020 · Covers April 2020

Originally issued as April 2020.

Hedge funds were up across the board in April, though less than broad market indices. YTD, hedge funds continue to outpace equity markets, with the PivotalPath Hedge Fund Composite returning -4.3% while the S&P is down more than twice that, returning -9.9% through month end.

+3.5%Composite, April

−5.4%Composite, year to date

+8.1%Composite, Q2

Equity SectorLeading strategy

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Headline strategy indices

Strategy	April	Year to date
Equity Sector	+6.2%	−1.5%
Equity Diversified	+5.5%	−6.8%
Event Driven	+5.2%	−7.1%
Multi-Strategy	+1.9%	−3.9%
Credit	+1.9%	−9.8%
Equity Quant	+1.7%	−4.9%
Global Macro	+1.5%	−3.2%
Volatility Trading	+0.2%	+6.3%
Managed Futures	+0.1%	−0.2%

Net of fees, in USD. The Composite plus the nine headline indices with a published monthly series; ordered by month return.

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Pivotal Point of View — April 2020

Headline strategy indices

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