Hedge funds continue gains
10 June 2015 Chicago
Image: Shutterstock
Hedge funds posted gains for the fourth consecutive month in May, led by equity hedge strategies, with significant contributions from technology, healthcare and fundamental value exposures, according to Hedge Fund Research (HFR).
The HFR Fund Weighted Composite (FWC) Index advanced +0.7 percent for the month, bringing year-to-date gains for the HFR FWC through May to +3.9 percent, leading both the S&P 500 and Dow Jones Industrial Average (DJIA), while the HFR Fund of Funds Index climbed +1.1 percent for May and +4.0 percent year-to-date.
Hedge fund strategy performance was led by the HFR Equity Hedge Index, which added +1.3 percent in May, the fourth consecutive monthly gain, bringing year-to-date to +5.1 percent and leading all main hedge fund strategies, as well as the S&P 500 and DJIA.
Equity hedge performance was led by the HFR Technology/Healthcare Index, which advanced +3.5 percent for May, leading all hedge fund sub-strategies. The index has gained +8.5 percent year-to-date, also the leading area of sub-strategy performance.
Event driven strategies also advanced for the month, as M&A activity continued to surge, with the HFR Event Driven Index gaining +0.6 percent, bringing year-to-date performance to +3.9 percent.
Macro hedge funds were impacted by directional currency and commodity volatility in May, with the HFR Macro Index unchanged for the month.
Macro performance was led by fundamental strategies, with the HFR Macro: Discretionary Thematic Index advancing +0.7 percent, while the HFR Macro: Multi-Strat Index gained +0.5 percent.
The HFR Fund Weighted Composite (FWC) Index advanced +0.7 percent for the month, bringing year-to-date gains for the HFR FWC through May to +3.9 percent, leading both the S&P 500 and Dow Jones Industrial Average (DJIA), while the HFR Fund of Funds Index climbed +1.1 percent for May and +4.0 percent year-to-date.
Hedge fund strategy performance was led by the HFR Equity Hedge Index, which added +1.3 percent in May, the fourth consecutive monthly gain, bringing year-to-date to +5.1 percent and leading all main hedge fund strategies, as well as the S&P 500 and DJIA.
Equity hedge performance was led by the HFR Technology/Healthcare Index, which advanced +3.5 percent for May, leading all hedge fund sub-strategies. The index has gained +8.5 percent year-to-date, also the leading area of sub-strategy performance.
Event driven strategies also advanced for the month, as M&A activity continued to surge, with the HFR Event Driven Index gaining +0.6 percent, bringing year-to-date performance to +3.9 percent.
Macro hedge funds were impacted by directional currency and commodity volatility in May, with the HFR Macro Index unchanged for the month.
Macro performance was led by fundamental strategies, with the HFR Macro: Discretionary Thematic Index advancing +0.7 percent, while the HFR Macro: Multi-Strat Index gained +0.5 percent.
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