Institutional hedge funds have performed well year-to-date, generating positive returns with low volatility and minimal equity beta, outperforming global equities during drawdowns. However, month-end return analysis misses what happens on an intra-month basis. April 2025 serves as a case study, showing hedge funds navigating a sharp equity selloff and subsequent rebound with composure, aided by active risk management. Read the paper to find out what strategies provided the most diversification benefits.
