The HFN press release for the Hedge Fund Aggregate Average shows an early estimate of April being the best month hedge funds have experienced since 1999, a year when the HFN Aggregate Average increased over 30%.

Standing at +2.61% for April 2007, the returns were clearly driven by strong global equity markets, emerging markets also turned in a blowout month in April as several EM equity markets reached all time highs.

Returns were below the S&P 500 Total Return which increased 4.43% during the month, but for the year hedge funds are still outperforming as the HFN Aggregate is +5.25% while the S&P 500TR is +5.10%. The HedgeFund.net database consists of over 7,200 current hedge fund, fund of funds, and CTA products.