Most GMS funds withstand May’s turmoil with small losses, but not all are unscathed

Tue Jul 3, 2012



After the benign conditions of the first quarter May was a brutal month which saw equity markets falling off sharply: the MSCI World index was down 8.63% while the S&P 500 was off 6.01%. On a relative rather than absolute return basis, hedge funds did fairly well, the median for the Global Multi-Strategy sector falling by 0.88% to take year-to-date figures to 1.51%.

Those funds with a large directional equity...

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