*

Multi-strategy funds return between 0.5% and over 3% April

returns

*

Stock pickers mostly flat for the year so far after

deleveraging

*

CTAs struggle in choppy markets

(Adds performance from Balyasny, 36 South, Transtrend)

By Carolina Mandl and Nell Mackenzie

NEW YORK/LONDON, May 2 (Reuters) - The biggest

multi-strategy hedge funds posted positive returns while stock

pickers and trend funds suffered in a tumultuous April, when

equities, bonds, currencies and commodities endured wild swings

triggered by U.S. tariff announcements.

Michael Gelband's ExodusPoint gained 2.83% last month, while

Citadel's flagship fund was up 1.3% and Schonfeld's Strategic

Partners rose 1.1%, according to sources.

Man Group's ( MNGPF ) multi-strategy fund also finished April up

0.52%, according to its website, while AQR Apex Strategy fell

0.7%, a person familiar with the matter said.

All five funds are in the multi-strategy category, which

is able to trade across asset classes and geographies through

many small investment teams within the firms.

Other Citadel funds also posted positive performances last

month. The tactical trading fund rose 1.9%, while the global

equities fund gained 2.2%, and the global fixed income fund rose

1.2%, a source said.

Outside the multi-strategy category, David Einhorn's fund

Greenlight Capital posted a 3.4% gain in April and is now up

11.9% for the year.

A broader universe of stock trading hedge funds saw more

modest returns. Stock pickers were up 0.97% for April and 0.48%

for 2025 so far, said a Goldman Sachs ( GS ) note to clients on

Thursday, seen by Reuters on Friday.

Hedge funds that were able to take advantage of

short-term market moves fared better than those that tend to

operate in more crowded trades, Goldman said.

Eight of 11 stock sectors including tech and upscale

consumer product companies were sold during April, which saw

Wall Street's so-called fear gauge on April 7 hit its

highest levels since the global pandemic in March 2020.

Several hedge funds fled positions, selling stock holdings

in North America and Europe, the Goldman note said.

"Persistent uncertainty (particularly when it comes to trade

and tariffs), in combination with increasing fundamental doubts

creeping in for large cap tech and heavy positioning entering

the year," led to riskier markets, said Bernie Ahkong, chief

investment officer at hedge fund UBS O'Connor in a letter to

clients.

This led to a "broad de-leveraging within the U.S. equity

long/short community," he added.

Commodity Trading Advisors that find trends in assets like

commodities, currencies and bond trades via algorithms were

whipsawed and returned a negative 4.47% result, showed data that

tracked these funds from Societe Generale. The index has only

had six other months with lower results since 1999.

Funds like Transtrend were down 1.17% for the month and over

15% for the year so far, its website said. AQR's Helix, another

trend-following fund, gained 3.7% last month, said a source.

Funds trading systematically, a wider universe of hedge

fund strategies including trend funds and short-term algorithmic

traders, returned 0.55% in April and were up 11.77% for the

year.

Volatility managers that take bullish bets via options on

market choppiness did well, like the $2 billion hedge fund, 36

South, which returned roughly 6% in April and is up around 11%

for the year. The fund declined to comment.

The S&P 500 ended April down 0.76%.

See below some hedge funds performances in April:

Fund Performance YTD

ExodusPoint 2.83% 6.40%

Citadel Wellington 1.3%

Schonfeld Strategic Partners 1.1% 3.24%

Man Strategies 1783 0.52% 4.1%

Greenlight Capital 3.4% 11.9%

Citadel Tactical Trading 1.9%

Citadel Global Equities 2.2%

Citadel Global Fixed Income 1.2%

Balyasny 0.9% 3.4%

AQR Apex -0.7% 8.1%

AQR Helix 3.7% 6.8%

AQR Delphi 3.2% 12.1%

AQR Managed Futures Full -1.4% 6.6%

Volatility

Transtrend DTP -1.17% -15.43%

36 South* 6% 13%

*through April 25