Saturday, 30 May 2015
Last updated 1 day ago
Jun 17 2013 | 2:20pm ET
Hedge funds edged up in May, according to one major industry index.
The Dow Jones Credit Suisse Hedge Fund Index added 0.42% last month. The benchmark is up 5.43% on the year—producing about one-third the return of the Standard & Poor's 500 Index over the same period.
Distressed funds did best in May, rising 2.38% (8.92% year-to-date). followed by event-driven funds (2.27% in May, 8.44% YTD) and event-driven multi-strategy funds (2.23, 8.26% YTD). Convertible arbitrage funds rose an average of 1.3% (4.15% YTD), long/short equity funds 1.19% (7.69% YTD), risk arbitrage funds 0.8% (1.76% YTD), equity-market neutral 0.4% (2.15% YTD), multi-strategy 0.37% (4.61% YTD) and fixed-income arbitrage 0.01% (2.52% YTD).
Managed futures funds took a big hit last month, falling an average of 4.98% to cut their year-to-date return to 1.94%. Dedicated short bias funds fell another 1.51% as the market rally continued, and are now down 13.06%. Emerging markets funds lost 0.2% on the month (up 6.01% YTD), and global macro funds shed 0.05% (up 3.91% YTD).
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…