Monday, 22 December 2014
Last updated 2 min 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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.