Saturday, 23 August 2014
Last updated 23 hours ago
Jun 8 2009 | 12:40pm ET
Hedge fund had their best month in nearly a decade last month, according to the Hennessee Hedge Fund Indices.
“With hedge funds up 5.68%, May was the best month for hedge funds since February 2000, when the index was up 6.83%,” Lee Hennessee, managing principal of the Hennessee Group, said. “Gains were largely driven by arbitrage strategies. However, long/short equity managers, with reduced levels of exposure, also performed well, participating significantly in the market rally while maintaining hedges.”
The Hennessee Hedge Fund Index is now up 11.4% on the year. Arbitrage and event-driven funds jumped 6.01% in May and are up 14.51% through the first five months of the year. Global macro funds added 6.17% (10.05% year-to-date), while long/short equity funds rose 5.23% (10.13% YTD).
Asia-Pacific funds were the best-performing substrategy in May, adding a full 9% (12.21% YTD). Emerging markets also continued their comeback with an 8.62% return (16.89% YTD), while the year’s best performer so far, convertible arbitrage funds, added 8.61% (25.67% YTD).
Other strong performances were turned in by PIPEs and private financing funds (7.93% in May, 10.05% YTD), event-driven funds (7.9%, 18.6% YTD) and financial equities funds (7.66%, 13.94% YTD).
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note