Mulvaney Drops Almost 12% As May Batters Big Names

Jun 3 2011 | 2:07pm ET

Most hedge funds took a hit in May, but the bigger they are, it seems, the harder they fell.

Some of the industry's biggest names suffered the biggest losses last month, according to Lipper, and none more so than Mulvaney Capital Management's Global Markets fund, which fell 11.8% from May 2 through May 30, Reuters reports.

Well, almost none: Superfund's "C" share class lost 16.7% in May—but that's because its two-times levered. The standard "A" class fell 8.7%.

Other firms burned by the month's volatility, especially in the commodities market, were Aspect Capital, whose diversified fund fell 5.3%, and Man Group's flagship AHL strategy, previously reported to have lost 4.6% during the period.

SVM Asset Management's Highlander Fund lost 4.4%, Hermitage Capital Management's flagship Global Fund 2.6% and Odey Asset Management's European strategy 2.45%.

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    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…