Australian Hedge Funds Up 3.2% In May

Jun 16 2009 | 2:08am ET

Trading Down Under didn’t turn Australian hedge fund returns upside down.

Antipodean hedge funds did narrowly trail their global peers in May, according to the Australian Fund Monitors Index, which rose 3.2% last month, based on preliminary returns. Most global hedge fund indices posted gains closer to or exceeding 5%.

May’s returns, coupled with a 2.6% rise in April, have Aussie hedge funds up 6.6% year-to-date.

Commodity trading advisors did the best of all Australian hedge funds, no surprise given the commodities rally last month. CTAs jumped 9.8%, according to AFM, followed by long-only funds, which rose 4.7%. Equity 130/30 funds did the worst, dropping 0.7%.

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