Barclay Hedge Fund Index Books Third Straight Positive Month in May, Up 0.78%

Jun 16 2016 | 11:50pm ET

Indices compiled by hedge fund data provider BarclayHedge are the latest measures to confirm the strong showing put in by most hedge funds last month.

The widely followed Barclay Hedge Fund Index gained 0.78% in May, its third consecutive positive month, according to BarclayHedge, pushing the year-to-date gain for the index to 0.85%.

The positive performance was broad-based, noted the company, with sixteen of Barclay’s 18 hedge fund indices booking gains during the month. The firm’s Technology Index was up 2.74%, Distressed Securities gained 2.14%, Healthcare and Biotechnology was up 2.30%, European Equities gained 1.65%, and the Equity Long Bias Index added 1.21%.

Conversely, the Equity Short Bias Index lost 1.54% in May, and the Global Macro Index slipped 0.26% - another indication of the crosscurrents faced by the average macro fund at the moment. 

For the year so far, however, performance is mixed. Nine of Barclay’s hedge fund indices were in the green for 2016 at the end of May, and nine have losses. The Event Driven Index leads the pack, up 3.60%, while Distressed Securities have gained 2.93%, Merger Arbitrage 2.69%, Emerging Markets 2.22%, Equity Short Bias 1.77%, and Convertible Arbitrage 1.58%.

On the other hand, Healthcare and Biotechnology Index is down 7.06% for the year, European Equities have lost 4.20%, Pacific Rim Equities are down 2.40%, and the Equity Market Neutral Index has lost 1.38%.

Founded in 1985, BarclayHedge provides independent, research-based information services to the alternative investment industry. The firm currently maintains data on more than 6,300 hedge funds, fund of funds, and CTAs. 

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