Friday, 1 July 2016
Last updated 39 min ago
Jun 12 2013 | 9:53am ET
Hedge funds enjoyed gains last month, although they once again failed to match or exceed the performance of the broader markets.
The Hennessee Hedge Fund Index rose 1.79% in May, compared to a 2.08% jump for the Standard & Poor's 500 Index. Equity long/short funds, notably those focused on financials, industrials and technology, did well, rising an average of 2.71%.
"At month end, managers saw significant increases in volatility, a significant drop in the dollar, especially against the Japanese yen," the Hennessee Group's Charles Gradante told Dow Jones Newswires.