Highlights from this month’s Eurekahedge Industry Review are as follows:

• North American hedge funds' assets under management crossed the $1 trillion mark for the first time since November 2008.
  
• Global hedge funds' assets exceeded the $1.5 trillion mark and are on track to surpass $1.75 trillion by year-end.
  
• Japanese hedge funds gained 2.99% in the month and 7.23% YTD – the best April YTD returns since 2004.
  
• Distressed debt hedge funds saw 13th consecutive month of positive returns, up 50.34% since March 2009.