Hedge Funds Lose Ground In Early May

May 18 2012 | 4:10am ET

After posting very modest gains in April, hedge funds returned to their losing ways in the first two weeks of May.

The average hedge fund shed 1.22% this month through May 15, according to Hedge Fund Research's HFRX intra-month update. The average fund is now up just 2.01% on the year, according to the HFRX Global Hedge Fund Index.

All but one of the strategies and substrategies tracked by the HFRX suite were in the red for the first half of May, with only convertible arbitrage funds posting gains of 0.45% (4.35% year-to-date). Meanwhile, market directional funds lost 3.47% during the period (down 0.06% YTD), fundamental growth funds 2.92% (up 3.43% YTD), equity hedge funds 2.41% (up 1.34% YTD), North America funds 1.8% (up 0.77% YTD), fundamental value funds 1.66% (up 0.76% YTD), special situations funds 1.27% (up 3.17% YTD) and event-driven funds 1.11% (up 4.53% YTD).

Other strategies fared slightly less badly. Systematic diversified commodity trading advisers shed 0.14% through May 15 (down 3.58% YTD), multi-strategy relative value funds 0.32% (up 3.17% YTD), distressed restructuring funds 0.43% (up 4.81% YTD), relative value arbitrage funds 0.45% (up 3.39% YTD), merger arbitrage funds 0.66% (up 1.09% YTD), and macro funds and CTAs 0.76% (down 1.62% YTD).


In Depth

Q&A: Rotation Capital's Rothfleisch On SPAC 2.0

Aug 11 2017 | 7:43pm ET

Corporate actions have long been a staple of event-driven investors, but activity...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Star Mountain Capital: Private Lending in the Lower Middle-Market

Aug 14 2017 | 4:45pm ET

Private credit has become one of the most popular alternative asset classes in recent...

 

From the current issue of