Wednesday, 7 October 2015
Last updated 17 hours ago
Jun 7 2007 | 12:14pm ET
Hedge funds were in a familiar position in May: well in positive ground, but also well behind the broader markets.
HedgeFund.net’s equal-weighted HFN Hedge Fund Aggregate Average rose 2.41% last month to reach 6.88% year-to-date, according to early estimates. But the continuing equity-market rally pushed the Standard & Poor’s 500 up another 3.49% to 8.77% year-to-date.
One way to beat the rally, it seems, is to go with it: The HFN Long Only Average rose 5.98% in May. The long/short subindex also performed relatively well, rising 2.76% on the month (8.09% YTD).
Other than just going with the market, emerging markets and energy funds were the strategies to be in last month, with the former adding 3.31% in May and the latter 3.11%. Those strategies are also the best-performing year-to-date, at 10.43% and 10.98%, respectively.
Among the remaining strategies, macro (2.81%, 5.2% YTD), special situations (2.74%, 9.35%), equity hedge (2.72%, 8.24% YTD) and CTA/managed futures (2.02%, 2.7% YTD) posted strong months. In addition, event-driven funds remained above the S&P500, with a 1.95% return in May and 9.15% year-to-date.
Regionally, Asia and Latin America funds had a remarkable May, rising 5.36% and 5.06%, respectively. Latin America funds are up an average of 14.8% in 2007, according to HFN, with Asia funds up an average of 10.16%.
Oct 7 2015 | 4:57am ET
Charity A Leg To Stand On (ALTSO) will hold its 12th Annual Hedge Fund Rocktoberfest – NYC on October 15 and its 4th Annual Rocktoberfest - Chicago on October 22. Read more…