Hedge Funds Add 1.44% In May

Jun 6 2008 | 10:45am ET

Hedge funds posted a strong May, besting the Standard & Poor’s 500 with a 1.44% return.

Hedge Fund Research’s HFRX Global Hedge Fund Index is now down just 0.2% on the year. The S&P 500 is down 3.8% after rising 1.3% last month.

Equity hedge was the best-performing strategy, returning 2.39% in May, though it remains down 0.17% year-to-date. Convertible arbitrage added 1.83% (it remains one of the worst-performing strategies of 2008, down 5.01% YTD) and macro 1.77%. The latter is the top strategy of the first five months of the year, with a 10.51% return.

Only one of the eight HFRX strategies was in negative ground in May: Distressed securities finished the month marginally lower with a 0.12% decline (down 3.28% YTD). The year’s worst-performing strategy, relative value arbitrage, was up a bit on the month, adding 0.11%, but remains down 6.5% on the year.


In Depth

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Trump Administration: What It Could Mean for Carried Interest

Jan 19 2017 | 5:25pm ET

The arrival of the Trump administration brings the potential for a repeal of the...

 

From the current issue of

Versum Materials (VSM), with a market capitalization of $2.7 billion, enables chipmakers to achieve higher performance at lower cost with enhanced reliability. Versum is a leading global provider of electronic materials for the integrated circuit and flat-panel display markets.