Tuesday, 31 May 2016
Last updated 3 days ago
May 8 2012 | 10:53am ET
Despite an uptick in mergers and acquisitions last month, hedge funds designed to profit for them failed to do so in a big way.
April saw the most M&A activity since October. But event-driven hedge funds posted some of the worst performances of the month, and merger arbitrage funds also suffered losses.
Event-driven funds lost 0.64%, according to the Dow Jones Credit Suisse Hedge Fund Index. Merger arb. funds fell 0.25%, according to Hedge Fund Research. The average hedge fund lost about one-third of a percent in April.