OC's long only Premium Equity Fund performed well in April with a positive return of 1.8% compared to both the Small Industrial Accumulation Index (-0.2%) and the All Ordinaries Accumulation Index (-1.2%).

Kima Capital\\'s Pan Asian Fund finishing the month up +1.41% after taking advantage of low volatility and several markets making new highs for the year early in April generating opportunities in the event space.

Morgan Stanley's FX Alpha Plus Fund did well in the first half of April then relied on its risk controls thoughout the latter part of the month to end up +3.06%.

Macquarie's Asia Long Short Fund finished April up +2.36%, beating its MSCI Asia Pacific Index benchmark which only managed +0.19%.

Excalibur says that it received a good sell signal in AUDYEN which contributed to their Absolute Return Fund's result of +2.58% in April.

Pengana\\'s Global Small Companies Fund returned 4.6% in April, taking the fund\\'s year to date return to 12.6%.

Fortitude Capital's Absolute Return Trust posted a +0.43% return for April, largely due to the fund's overlay strategy.

Herschel's Absolute Return Fund reported a gain of 0.36% in April despite the Australian All Ordinaries Accumulation Index falling 1.18%.

In a month when sharemarkets fell, MM&E Capital's Investment Trust No. 1 was happy to achieve a positive return of 0.83%.

Lanterne says that their Arran Fund\\'s return of +2.04% in April was due to the fund\\'s de-risking throughout the month which saw long positions in materials and mining names being reduced while shorts in banks were increased.