Event-driven funds lead hedge fund indices in May

By Siobhán Hallissey

Fri Jun 6, 2014

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All strategies positive for the month, according to early estimates.

The HedgeFund Intelligence Composite Index gained 1.13% in May, marking a stronger month for hedge funds following muted performance in March and April. Major market indices posted weightier gains, with the MSCI World Index up 1.97% and the S&P 500 up 2.35%.

All regions posted gains in May, with the Americas up 0.92%—the ninth consecutive month of positive performance for the Absolute Return Composite Index, which is now up 3.19% for the year.

Every strategy was up for the month, with event-driven funds the strongest performers for the second time this year. The Absolute Return Event Driven Index was up 1.94% for the month and is up 5.27% for the year so far.

Technology funds bounced back in May, up 1.78% for the month, following a disappointing April that resulted in the highest monthly loss for the Absolute Return Technology Index (-4.33%) since 2008.

Despite posting gains in May, the macro, managed futures and Latin American equity indices remain in negative territory for the year, down 0.84%, 0.71% and 0.06%, respectively.

Note: These indices were accurate as of Jun 6 and are subject to change. For the most recent performance statistics, please click on the links in the table below to the individual databases. For a complete list of the top performing funds in each strategy, please visit the HedgeFund Intelligence database.

HedgeFund Intelligence Indices
Median hedge fund returns by region

Region Database
Asia AsiaHedge
1.20% 0.26%
Europe EuroHedge
1.39% 2.69%
U.S. Absolute Return
0.92% 3.19%
0.86% 1.59%
Funds of Funds InvestHedge
0.71% 0.59%
Global Composite HedgeFund Intelligence
1.13% 2.60%

Absolute Return Indices (Americas hedge funds)

Index May YTD
Credit 0.79% 4.56%
Event Driven 1.94% 5.27%
Latin American Equity 1.48% -0.06%
Macro 0.11% -0.84%
Managed Futures 1.43% -0.71%
Multistrategy 0.79% 3.25%
U.S. Equity 0.78% 2.20%
Composite 0.92% 3.19%

Global Benchmarks
Index May YTD
MSCI World Index 1.97% 4.31%
Dow Jones Industrial Average 0.82% 0.85%
S&P 500*
2.35% 4.96%
NASDAQ Composite 3.11% 1.58%
MSCI Europe Index 2.23% 5.93%
MSCI Pacific Free Index 3.22% -0.09%
* total return

About HedgeFund Intelligence

HedgeFund Intelligence  is the largest provider of hedge fund news and data in the world, offering a range of products to the global hedge fund industry, its investors and related companies.

Our publications include AsiaHedgeEuroHedgeInvestHedgeAbsolute Return and Absolute UCITS, which together provide comprehensive global coverage of hedge funds and their investors. Our  databases list information on nearly 15,000 hedge funds and funds of funds worldwide, allowing subscribers to search and sort by performance, size, investment terms, vendors employed and many other criteria. Using the performance reported by funds in our databases, HFI produces free hedge fund  indices  that are the industry's most accurate benchmarks. Our frequent special reports  include in-depth analyses of various regions and sectors. Our  conferences  are renowned for the quality of the speakers and programming, and our objectively-determined  annual awards  are regarded as the most prestigious and accurate recognition of risk-adjusted performance.

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