Hedge funds are staging a dramatic rebound after suffering hefty losses during March’s Middle East-fueled market mayhem, with equity-focused strategies landing their biggest monthly gain for investors in a quarter-century last month. Overall, the industry advanced about 3% on average in April, according to new data published by global industry tracker Hedge Fund Research. “We saw in April a historic performance recovery for hedge funds from a historic decline in the prior month of March,” said HFR president Kenneth Heinz. Among the industry’s big winners were equity hedge funds — a cornerstone strategy in which managers invest both long and short on listed companies. Short selling involves investors betting against a particular stock…
