April was a good month for markets and the hedge funds that bet on them. Managers across the board made money, including quants, credit managers, concentrated equity managers, and activists. Few managers were able to outpace the overall stock market, which returned more than 12% after dividends were reinvested. Visit Business Insider's homepage for more stories. Hedge funds aren't supposed to move in conjunction with the overall market, but managers that were thrashed in an ugly March didn't mind bouncing back with the market in April.