Monday, 30 November 2015
Last updated 2 days ago
Jun 1 2011 | 10:44am ET
Barring an impressive, improbable and industry-wide turnaround yesterday, the average hedge fund likely posted its second losing month of the year in May.
Hedge Fund Research's HFRX Global Hedge Fund Index was down 1.83% on the month through Friday, the last trading day before the Memorial Day holiday in the U.S. The decline left the index down 0.97% on the year with just one trading day left in the month, the worst for stocks since August.
As is becoming the norm in 2011, the broader markets outperformed the average hedge fund, with the Standard & Poor's 500 Index falling only 1.4%. Some strategies badly lagged the S&P500, with equity hedge funds dropping 3.4% and systematic macro funds 2.13%.
May's malaise even hit Third Point, which hasn't had a down month in almost a year. The New York-based firm's publicly-listed Offshore Investors vehicle fell 0.4% on the month, although it remains up 9.7% on the year, MarketWatch reports.
Also indicating a difficult May was the Man Group, which said its AHL Diversified PCC fund shed about 4.6% between the second and second-to-last days of the month.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…