Replication Index Shows Hedge Funds Flat In May

Jun 5 2013 | 11:57am ET

Hedge funds were flat in May, continuing to miss out on the ongoing market rally, according to an industry replication index.

The Credit Suisse Liquid Alternative Beta Index neither gained nor lost ground last month, while the Standard & Poor's 500 Index rose a further 2% to reach 15.4% on the year. The Credit Suisse hedge fund benchmark is up just 3.3% in 2013.

Merger arbitrage was the best-performing strategy last month, rising 1.25% (5.5% year-to-date). Long/short added 0.48% (2.55% YTD) and event-driven 0.23% (4.59% YTD).

Managed futures fell 0.43% in May (up 5.43% YTD), while global strategies lost 0.21% (up 3.04% YTD).


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