Hedge Funds Add 5.68% In May

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).


In Depth

Q&A: Open Season For Closed-End Funds

Aug 29 2014 | 10:00am ET

When Maury Fertig and Bob Huffman, former Salomon Brothers coworkers, launched...

Lifestyle

Och Funds Women In Finance Initiative At U-M

Aug 28 2014 | 3:01pm ET

Och-Ziff Capital founder Daniel Och and his wife have made a "generous donation"...

Guest Contributor

Looking Ahead: What’s In Store For Managed Futures?

Aug 22 2014 | 12:52pm ET

The last five years were phenomenal for investors in equity indices. Will the next...

 

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

July/August 2014 Cover

The time was right

Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...

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.