Hedge Funds Rise 0.42% In May

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).


In Depth

Fund Manager's Disease: Common Symptoms and Proposed Remedies

May 3 2016 | 6:11pm ET

The cadre of 25 research analysts at Murano Systems speaks with more than 150 investors...

Lifestyle

Point72's Cohen Donates $275M To Veterans Mental Health Network

Apr 6 2016 | 8:31pm ET

Billionaire hedge fund manager Steve Cohen has formed a non-profit aimed at treating...

Guest Contributor

Agecroft: Why NYCERS Should Reconsider Exiting All Hedge Funds

Apr 18 2016 | 5:51pm ET

The recent decision by the New York City Employment Retirement System to exit its...