Thursday, 25 December 2014
Last updated 1 day ago
Jun 9 2009 | 7:07am ET
Another hedge fund index shows a big advance for the industry last month, although it says hedge funds continued to trail the broader markets.
The Credit Suisse/Tremont Hedge Fund Index added 3.61% in May, according to early estimates based on 62% of assets reporting. May’s performance pushed in the index up to 6.25% for the year, well ahead of the Standard & Poor’s 500 Index, which jumped 5.59% last month to reach 2.96% year-to-date.
All strategies save for managed futures rose last month. Emerging markets funds, which posted a dreadful 2008, enjoyed the best month, adding 7.04%. The strategy is now the best performer year-to-date at 12.52%. Fixed-income arbitrage funds added 6.45% (12.05% year-to-date), convertible arbitrage funds returned 6.03% (19.38% YTD) and equity-market neutral funds rose 5.06% (2.71% YTD).
Multi-strategy funds returned 4.3% in May (10.52% YTD) and long/short equity funds advance 4.14% (7.12%). Event-driven funds added 4.31% (5.66% YTD), led by event-driven multi-strategy funds, which jumped 4.99% (6.7% YTD). The other event-driven substrategies, distressed and risk arbitrage, did less well, returning 3.09% (3.75% YTD) and 0.45% (3.94% YTD), respectively.
Global macro funds rose 1.52% (4.33% YTD) and dedicated short-bias funds added 0.97% (down 7.63% YTD) after April’s disastrous 9.57% drop.
The lone loser in amidst May’s advances, managed futures funds shed 0.2% (down 6.22% YTD).
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.