The old adage ‘sell in May’ proved correct once again, with the MSCI Far East ex Japan down 9.8% on the month. It was a tough environment for hedge funds: although many managed to limit their losses, some saw double-digit falls.
WF Asia was up 0.72% on the month taking year-to-date figures to 13.64%, and Allard Investment Fund gained 0.9% to leave YTD figures at 7.3%.
The Greater Asian Hedge Fund was down 1.92% in May, leaving YTD numbers at 1.4%. Manager William Kaye remains committed to his strategy of being long gold and gold equities, having added