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

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...