Hedge Funds Roar Back In April, Nearly Erasing March Drawdown In One Month

Every month, on behalf of greater than $600B in client hedge fund capital, PivotalPath tracks 3000+ institutionally-relevant hedge funds, spanning over $3T of assets.

Key Takeaways

Pivotal Point In Time:

T.S. Eliot called April the cruelest month – he clearly wasn’t running a hedge fund in 2026! After March’s scare gave the industry its worst month in two years, the start of Q2 produced the precise opposite, with one of the most extreme positive months PivotalPath has on record in almost 30 years of data.

• The PivotalPath Hedge Fund Composite Index gained 3.7% in April – the sixth-best month for the index since 1998 – taking industry performance to 4.7% YTD and almost entirely undoing the March drawdown in 30 days.
  • The...