Equity Hedge Funds Soar In May

Jun 19 2008 | 2:00am ET

Hedge funds have clawed back into the black, as equity hedge strategies pushed the average hedge fund up more than 2% last month.

Hedge Fund Research’s HFRI Fund Weighted Composite Index is now up 0.11% on the year after returning 2.05% in May. Equity hedge strategies dominated during the month, rising 2.6% on the month overall (down 1.19% year-to-date). Energy and basic materials funds were the strongest performer outside the emerging markets area, returning 4.86% last month (up 2.91% YTD).

Other equity hedge strategies posting a strong May include technology/healthcase (up 3.47% in May, up 0.04% YTD) and quantitative directional (up 2.73% in May, down 0.56% YTD).

Last month’s other notable performers were in emerging markets, with Russia and Eastern Europe funds jumping 5.33% last month, though they remain down 0.71% on the year, and Latin America funds adding 3.08% (up 4.34% YTD).

Emerging markets funds generally added 1.62% (down 3.36% YTD). Event-driven funds rose 1.81% (down 0.77% YTD), macro funds 1.33% (up 4.35% YTD) and relative value funds 1.32% (down 0.73% YTD). Funds of hedge funds returned 1.92% on the month (down 1.45% YTD).

Only two of the myriad HFRI indices and subindices were in the red last month: Short-bias funds suffered during the market rally, dropping 1.94% (up 2.85% YTD) and Asia ex-Japan funds fell a further 0.67% (down 8.95% YTD).


In Depth

Q&A: Brevan Howard’s Charlotte Valeur Talks Strategy

Sep 18 2014 | 11:18am ET

Charlotte Valeur chairs the board of Brevan Howard Credit Catalysts, an LSE listed...

Lifestyle

Griffin Donates $1M To Rauner's Illinois Gov. Campaign

Sep 22 2014 | 9:29am ET

Hedge fund billionaire Kenneth Griffin definitely has a dog in this race. The Citadel...

Guest Contributor

Top 5 Predicted Outcomes Of CalPERS' Hedge Fund Divestment

Sep 22 2014 | 8:35am ET

CalPERS’ announcement to divest of hedge funds has created a significant buzz...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

September 2014 Cover

The London Whale: Rogue risk management

Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.