Saturday, 28 May 2016
Last updated 5 hours ago
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.