Hedge Funds Advance 5% In May As Inflows Return

Jun 12 2009 | 12:12pm ET

If there’s one thing that hedge fund indices seem to agree on, it’s that hedge fund haven’t had a month like May in a very long time.

The latest to join the “best month in nine years” chorus is Eurekahedge. The Singapore-based data provider’s Eurekahedge Hedge Fund Index rose 5.2% last month, based on preliminary figures, its best since February of 2000. The index is now up 9.2% on the year.

And that’s not the only good news: Eureka said that hedge funds actually took in new money in May, the first time in 10 months that the industry has seen a net inflow. All told, $3.2 billion came into the industry last month against $1.7 billion in redemptions.

According to Eureka, it didn’t matter what you invested in or where you did it: All regional indices and strategy indices were in the black last month. Asian hedge funds were the best performers in May, rising 9%, followed by emerging markets funds a 8.5%, a record for the strategy.

Event-driven funds also did well, with a 7.2% return in May, as did long/short equity, which jumped 6.7%.


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