HFRI: Hedge Funds Down 1.28% In May

Jun 8 2011 | 10:04am ET

Hedge funds lost an average of 1.28% in May, their first losing month in nine and their largest drop in exactly one year, according to figures from Hedge Fund Research.

The decline leaves the HFRI Fund Weighted Composite Index up 1.92% on the year. Losses last month were widespread, with only seven of the 28 strategies and substrategies tracked by HFRI above water in May.

Systematic diversified funds suffered the worst month, losing 3.65% (down 1.17% year-to-date), followed by market defensive funds of funds (down 3.34% in May, down 2% YTD) and energy and basic materials funds (down 3.18%, up 0.28% YTD). Among major strategies, macro funds fell 2.54% (down 0.69% YTD), emerging markets funds fell 1.97% (up 0.77% YTD), equity hedge funds fell 1.08% (up 2.48% YTD) and event-driven funds fell 0.47% (up 4.27% YTD).

Funds of hedge funds lost 1.46% on the month (up 0.66% YTD).

The much-less numerous winners were led by asset-backed hedge funds, which added 1.06% (5.72% YTD). Technology and healthcare funds rose 0.71% (7.79% YTD) and short-bias funds 0.31% (down 7.64% YTD). Relative value funds were up 0.27%.

In Depth

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...