Tudor, RenTech, Fortress Drop In May

Jun 7 2011 | 2:52pm ET

May was anything but merry for a trio of the hedge fund industry's most prominent firms.

A pair of Tudor Investment Corp. funds took a big hit last month, wiping out their year-to-date gains. The Tensor Fund shed 6.75% in May, leaving it down 5.17% on the year, according to Dealbreaker.com. The Momentum Fund dropped 4.95% and is down 1.69% on the year.

Things were a little better—but only a little—across the Long Island Sound from Tudor's Connecticut headquarters. Renaissance Technologies' Institutional Futures Fund lost 3.44% in May, dragging it into the red at 0.55% on the year.

Things were more mixed at Fortress Investment Group. The firm's liquid hedge funds lost between 1.15% and 2.46% last month, it said in a regulatory statement. But its Asia funds remain up about 2% on the year and its commodity fund 1.24%, although its flagship macro strategy is down 1.8% on the year.

Fortress did not provide May numbers for its illiquid hedge funds, although it did say that they rose between 0.82% and 1.44% in April and were up between 4.07% and 7.33% year to date.


Lifestyle

Survey: Wall Street Banks Still Top Silicon Valley, Hedge Funds for Freshly-Minted MBAs

Jun 21 2016 | 9:01pm ET

Contrary to concerns that Wall Street isn't as appealing to new graduates as it...

Guest Contributor

The Future of the Blockchain in Financial Services Communications

Jun 17 2016 | 1:05pm ET

Over the past year, a large portion of the financial services industry has awakened...