HFRI: Hedge Funds Down 1.59% In March

Jun 8 2012 | 1:02pm ET

Hedge funds weren't spared the wrath of the markets in May, according to an industry benchmark.

Hedge Fund Research's HFRI Fund Weighted Composite Index lost 1.59% last month. That's much less than the 6.27% the Standard & Poor's 500 Index lost, but left the average hedge fund up just 2.54% on the year.

There were few winners in HFRI's roster last month: five, to be exact. Short-bias funds, obviously, led the way with a 7.03% jump (down 3.3% year-to-date), followed by systematic diversified funds (4.09% in May, 2.92% YTD). Macro funds added 1.71% (1.85% YTD) and fixed-income asset-backed relative value funds 0.56% (6.24% YTD). And market defensive funds of funds were rewarded for their conservatism with a 0.82% return (1.24% YTD).

Otherwise, it was a bloodbath: Equity hedge funds lost 4.07% (up 1.77% YTD), event-driven funds 1.35% (up 3.13% YTD) and relative value funds 1.25% (up 3.08%). Emerging markets funds were especially hard-hit, losing 5.42% on average (up 0.79% YTD), with Russian and Eastern European funds plummeting 11.35% (down 4.45% YTD), Asia ex-Japan funds falling 5.75% (up 0.46% YTD) and Latin American funds shedding 5.57% (up 1.59% YTD).

It was no picnic for other substrategies, either: Energy and basic materials funds lost 7.76% (down 5.74% YTD), yield alternatives funds 4.88% (up 1.12% YTD) and quantitative directional funds 3.91% (up 2.26% YTD), to name a few.

Funds of funds also suffered a bleak month, except for the market defensive variety, losing 1.98% in May (up 1.5% YTD).


In Depth

Why Ponzi Schemes Work: An In-Depth Look At The Allen Stanford Fraud

Dec 21 2014 | 10:30am ET

Texan Allen Stanford first appeared on the radars of financial regulators in 1997...

Lifestyle

Hedgie Funds US Squash Program

Dec 24 2014 | 8:46am ET

Squash, anyone?

Guest Contributor

EidoSearch’s Top Three Market Projections For 2015

Dec 23 2014 | 4:03am ET

It is that time of year again when prognosticators make their big market calls for...

 

Sponsored Content

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

December 2014 Cover

Futures 2014 person of the year

Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.