It’s the first full week of May, meaning those who aren’t Googling “Sell in May and go away” (see our take here) are looking at their statements seeing how April turned out. It was somewhat of an odd month from our viewpoint, with a few of the programs we track having a tough go of it in April; but the indices are finishing up around even {past performance is not necessarily indicative of future results}.

(Disclaimer: Past performance is not necessarily indicative of future results)
(Only 27% of returns reported to the BarclayHedge CTA Index)

Overall, we’re hopeful this spate of black numbers gets managers in the mood for more similar numbers, and to finish the year with a strong second half performance, like it has a history of doing {past performance is not necessarily indicative of future results}.