Pivotal Point of View — April 2025

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Pivotal Point of View · April 2025

Pivotal Point of View — April 2025

Published 14 May 2025 · Covers April 2025

Originally issued as May 2025.

A tariff U-turn sparked life back into the markets at month end, but many strategies still struggled to get on top of April’s wild swings

+0.1%Composite, April
+0.0%Composite, year to date
+4.0%Composite, Q2
Volatility TradingLeading strategy

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Headline strategy indices

Strategy April Year to date
Volatility Trading +1.6% +4.2%
Equity Quant +1.2% +4.8%
Equity Sector +0.9% −4.3%
Equity Diversified +0.8% +0.4%
Multi-Strategy +0.4% +1.0%
Event Driven +0.4% −0.4%
Credit −0.1% +1.5%
Global Macro −0.4% +2.5%
Managed Futures −4.4% −8.0%

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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