Thursday, 3 September 2015
Last updated 10 hours ago
Jun 11 2007 | 11:49am ET
With the Standard & Poor’s 500 reaching record heights last month, hedge funds had a tough act to follow. They didn’t.
The S&P500 rose 3.94% last month, vaulting it ahead of the Hennessee Hedge Fund Index’s year-to-date return for the first time since January at 8.07%. The Hennessee Index added 2.45% last month, and stands at 7.86% year-to-date.
“The strong performance is an indication that many funds have expanded their net exposures and become more fully invested,” managing principal E. Lee Hennessee said, “although short-selling has again become more difficult over the last two months.”
Has it ever: While long/short funds rode the booming equity markets to a 2.39% return in May (7.37% YTD), short-biased was the only strategy tracked by Hennessee in the red, falling 2.67%. It is also the only strategy with a losing 2007, down 6.2%.
Macro was the top-performing strategy among the Hennessee indices, jumping 3.22% (6.3%). Event-driven funds continued their steady returns this year and it remains the best-performing strategy year-to-date, adding 2.2% in May (10.57% YTD).
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…