News Digest:

Hedge funds having a dominant portfolio bias towards so-called “growth stocks” in the technology sector suffered a nearly 5% loss in April amid a market rout, with the Nasdaq Composite plummeting by over 13%.

Takeaway:

In contrast, global macro funds gained 5% on average last month, driven by robust returns in commodities, fundamental discretionary and trend-following strategies, HFR figures showed. Overall, hedge funds lost 0.9% in April, as compared to a loss of about 9% for the S&P 500, the data provider said.

End Notes

Source: https://www.cnbc.com/2022/05/12/hedge-fund-winners-and-losers-emerge-in-brutal-tech-driven-sell-off.html