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

Humble in Hofstra...One Debate an Election Can Make

Sep 26 2016 | 10:20am ET

Tonight's U.S. Presidential debate, infamously coined the “Humbling in Hofstra...

Lifestyle

Vortic: Reimagining the Custom Wristwatch

Sep 27 2016 | 7:24pm ET

American watch manufacturer Vortic, which started out restoring antique pocket watch...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...