April 2026 Data Roundup: From Worst to First
April began where March left off, with the hedge fund industry processing its worst monthly performance since the COVID crash. The SS&C GlobeOp Hedge Fund Performance Index fell 1.79% in March, HFR confirmed the industry's steepest losses since March 2020, and Citco data revealed the first quarterly loss since 2022. The reversal came swiftly. As US-Iran ceasefire signals took hold, systematic funds drove a record $86bn equity buying spree in a single week according to Goldman Sachs, and the industry was on course for its best monthly performance in over a decade. The same oil volatility that powered Andurand's flagship fund to roughly +31% in Q1 reversed sharply in April, wiping out a large portion of those gains.
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Buy Side Performance & News
Andurand Capital Management's Commodities Discretionary Enhanced strategy, which surged roughly 31% in Q1 riding oil volatility triggered by the Iran conflict, suffered steep losses in April as energy markets reversed sharply, according to Bloomberg.
Jane Street generated nearly $40bn in net trading revenue in 2025, a record placing the firm comfortably ahead of competitors including Citadel Securities and Hudson River Trading, according to Bloomberg.
D1 Capital Partners reported a difficult March, with its equities portfolio declining approximately 6%, placing Dan Sundheim's firm among the weaker-performing stock-focused funds during the month, according to Bloomberg.
Two Sigma Investments's flagship funds outperformed multi-strategy peers in March, with the Spectrum fund rising 2.5% and the Absolute Return fund gaining 3%, despite internal upheaval after co-CEO Scott Hoffman resigned citing ongoing governance challenges, according to Bloomberg.
Systematic hedge funds ramped up equity exposure at a historic pace in mid-April, with Goldman Sachs prime brokerage estimating net purchases of around $86bn over five consecutive trading sessions as ceasefire news triggered CTA momentum signals — one of the largest buying sprees on record.
Freestone Grove, the equities-focused multi-manager hedge fund launched in 2024 by ex-Citadel executives, has quietly doubled its assets to over $6bn, according to eFinancial Careers.
S&P Dow Jones Indices has launched a new credit-default swap index designed to give investors short exposure against the private credit market, reflecting growing concerns about stress in the sector, according to Bloomberg.
Fund Launches, Closings, Redemptions & Asset Raising
Jain Global is returning external capital and will manage money exclusively for Millennium Management from October 2026, according to Bloomberg.
Eminence Capital is winding down and returning capital to investors after 27 years, according to Bloomberg.
Alua Capital Management is shutting down its roughly $2bn hedge fund after returns failed to meet expectations, according to Bloomberg.
AllianceBernstein has shut down its hedge fund AB Arya, underscoring the challenges smaller entrants face competing in the increasingly scale-driven multi-manager industry, according to Bloomberg.
Pershing Square USA raised approximately $5bn through an IPO, with shares falling sharply on their first day of trading, according to Bloomberg.
Abundance, a hedge fund founded by Instacart co-founder Apoorva Mehta, is using AI agents to run much of its investment process in one of the most aggressive attempts to replace traditional portfolio management with AI, according to Bloomberg.
Lumenai Investments is preparing to launch what it describes as the first institutional hedge fund built around a fully agentic AI architecture, according to Bloomberg.
Saba Capital Management is preparing to raise around $1bn for a new strategy targeting stressed and illiquid private credit funds, according to a company statement.
Redwood Capital Management is planning to raise approximately $1bn for a new fund focused on long-term illiquid credit investments, according to Bloomberg.
Kite Lake Capital Management raised approximately $700m in new capital after briefly reopening its flagship fund before closing it again, according to Bloomberg.
Galaxy Digital has launched a $100m hedge fund targeting crypto and fintech equities, according to Bloomberg.
Mars FX, a hedge fund that once reported steady double-digit gains, has collapsed with around $600m unaccounted for, triggering a worldwide investigation, according to Bloomberg.
Dovehouse Capital, described as Abu Dhabi's first locally established hedge fund, has secured $80-150m in initial commitments from Emirati family offices, targeting multi-billion AUM within three years, according to Bloomberg.
Taula Capital Management secured an additional $1.75bn from existing investors, taking total assets past $8.5bn, according to Bloomberg.
Saba Capital Management is preparing to raise around $1bn for a new strategy targeting stressed and illiquid private credit funds, according to a company statement.
Regulatory, Compliance and Legal
The SEC and CFTC have jointly proposed scaling back hedge fund reporting requirements to reduce compliance costs, according to CNBC.
The UK's Financial Conduct Authority has eased restrictions on hedge funds, relaxing short-selling rules and slashing administrative and reporting requirements in a sweeping overhaul, according to CNBC.
Citadel has received regulatory approval to begin operating in Dubai, with its first traders expected in the DIFC imminently, according to Bloomberg.
The Commodity Futures Trading Commission is investigating sharply timed trading patterns in oil futures markets that appeared shortly before recent policy shifts by Donald Trump linked to the US-Iran conflict, according to Bloomberg.
New Product Launches
Daloopa has integrated its MCP with Perplexity, enabling joint customers to connect their existing licensed financial data directly into Perplexity and its always-on digital worker, Perplexity Computer, using a bring-your-own-license model that requires no API configuration, entitlement management, or tool switching. The integration supports both natural-language querying and complex financial analysis workflows powered by Daloopa's audit-ready fundamental data.
FinancialReports has launched an MCP server for global regulatory filings, giving AI agents structured access to 46,000+ listed companies across 43 markets, 18M+ filings, and 126 Capital IQ-aligned KPIs covering income statement, balance sheet, and cash flow at annual, half-year, and quarterly granularity, sourced directly from ESEF, 10-K, and equivalent regulatory filings. The server is already in use at tier-1 multi-strategy funds.
ExtractAlpha has relaunched AlphaClub, its research workspace for investment professionals, with a redesigned interface and expanded data coverage including international signals. AlphaClub provides a centralized environment to explore ExtractAlpha's offerings, understand how stock selection signals are constructed, and assess signal relevance within an existing investment process.
Kaleidoscope launched Provenance, a structured signal intelligence platform applying 500+ trained NLP classifiers at the sentence level to every SEC filing, linking each signal to the exact source sentence frozen at EDGAR acceptance. The platform covers 4,831 tickers from 2014, achieving a median AUC of 0.956 and a 145-week out-of-sample IC of 0.095. Provenance Connect includes an MCP server for AI-powered query workflows.
Sequentum launched the Checkout Agent, the first enterprise-scale checkout agent built for production, integrated with Skyfire for secure and compliant agentic commerce. The agent enables AI to transact autonomously at scale, is SOC 2 Type 2 certified, and is designed for governance and auditability in regulated environments.
THE DATA CORNER
Data Insights & News
Big Byte Insights published analysis of China hotel ADR (average daily rate) year-on-year in 2026, separating CNY calendar distortion from genuine underlying trends. The dramatic Jan/Feb swings (−19.8% on January 30 to +39.0% on February 18) were largely base-effect artifacts of the shifted lunar calendar, while the underlying trend shows modest positive recovery. Luxury properties showed the widest swing — a 71-percentage-point range — and the Iran conflict is adding secondary pressure on outbound travel demand.
Financial AI forecasts are now available on Bloomberg Terminal, marking the first AI-generated financial forecasts on the platform. Financial AI covers nearly 1,500 publicly traded companies, leverages 1,400+ data sources to deliver forward-looking fundamental insights up to 60 days ahead of earnings, and has achieved 85% accuracy in predicting beats and misses since 2016. Access via DS <GO> on the Bloomberg Terminal. Forecasts are also available on FactSet and AlphaSense.
Prosper Insights & Analytics April survey data shows consumer resilience under energy pressure: Consumer Confidence fell from 42.2% to 38.4% month-over-month, while Consumer Mood held significantly more stable after March's initial shock from the Iran conflict. The 90-day forward spending forecast remained up 3.1% vs April 2025, suggesting consumers are adapting to value-oriented spending rather than broadly retrenching.
Stockpulse launched an AI Developments Alert System for financial compliance teams, aggregating and synthesising content from ModelScope, arXiv, r/LocalLLaMA, and Hugging Face Papers into a daily digest with summaries and source links — helping compliance departments at hedge funds and banks stay ahead of fast-moving AI developments without monitoring fragmented technical channels.
Trade Data Monitor launched Deep Data Dive, a free monthly newsletter covering world trade flows including gold, tariff developments, and geopolitical trade disruptions, providing institutional-grade context for interpreting and utilizing global trade statistics.
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