Greenwich: Hedge Funds Down 1.2% In May

Jun 10 2011 | 2:06am ET

Hedge funds fell—along with global stock markets—during a volatile May, with directional trading funds hit particularly hard, according to Greenwich Alternative Investments.

The firms' Greenwich Global Hedge Fund Index fell 1.2% last month, slightly more than the Standard & Poor's 500 Index. But hedge funds haven't had the year that the S&P500 has; the former are up only 1.8% through May, according to the Greenwich benchmark, while the latter is up 7.8%.

Losses were widespread, both among strategies and geographically. Emerging markets funds lost 2% on the month (up 0.4% year-to-date), but funds focused on developed markets did little better, dropping 1.2% (up 1.9% YTD). Greenwich's market neutral group was flat on the month (up 2.9% YTD), but five of its nine strategy and sub-strategy indices were in the red.

Directional trading strategies, on the other hand, had anything but a mixed month: Theirs was downright bad. The average such fund lost 2.8% in May (down 0.8% YTD), with futures funds dropping 3.3% (down 0.7% YTD) and macro funds 1.7% (down 0.5% YTD).

Long/short equity funds lost an average of 1% on the month (up 2.5% YTD). Long/short credit was a rare bright spot in the data, adding 0.8% (5% YTD), trailing only short-biased funds (up 1.1% in May, down 3.2% YTD) for the month.


In Depth

Firm Focus: Sustainable Insight Capital Bullish On ESG

Aug 12 2014 | 9:18am ET

Bruce Kahn spent over 15 years as a research scientist/consultant on environmental...

Lifestyle

Viking Manager In Rent Dispute

Aug 11 2014 | 4:14am ET

A hedge fund manager is demanding most of his money back from his former landlord...

Guest Contributor

Majority Of Inflows Go To Brand Name Hedge Funds

Aug 12 2014 | 9:00am ET

Since the market correction of 2008, a vast majority of hedge fund net asset flows...

 

Editor's Note

 

Futures Magazine

PREVIEW July/August 2014 Cover

Inside Futures' 500th Issue

The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.

The Alpha Pages

TAP July/August 2014 Cover

Real talk on alternative investments, business & finance

The Alpha Pages Editor's Note