* 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 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 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 <.VIX> 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 <.SPX> 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 (Reporting by Carolina Mandl in New York and Nell Mackenzie in London; Editing by Dhara Ranasinghe and Nia Williams) ((carolina.mandl@thomsonreuters.com; +1 (917) 891-4931;)) Keywords: GLOBAL HEDGEFUNDS/PERFORMANCE (WRAPUP 2, PIX)
