Tuesday, 30 August 2016
Last updated 41 min ago
Jun 4 2012 | 2:56pm ET
Hedge funds slipped into the red in May as most strategies suffered sizeable losses.
The Credit Suisse Liquid Alternative Beta Index fell 2.32% last month. The loss leaves the benchmark down 0.43% on the year. But it lost less than the Standard & Poor's 500 Index in May, when the broad market benchmark fell more than 6%, although the S&P 500 remains up on the year.
Four of the five strategies tracked by the LAB indices took a loss in May. Event-driven funds dropped 3.76% (down 0.05% year-to-date) and long/short funds 3.64% (down 0.14% YTD). Merger arbitrage funds dipped 1.66% (down 1.67% YTD) and global strategies 1.36% (down 0.77% YTD).
Only managed futures funds saw gains last month. The strategy added 2.5% in May to pull out of the red, leaving it up 0.46% on the year.