May was another tough month for hedge funds. Amid a troubling macro-economic environment, commodity and equity markets in particular sold off. The global multi-strategy sector was down 0.73%, leaving year-to-date gains at just 1.45%.
Sandalwood Special Credit Opportunities was up 0.02% which left three-month numbers at 0.7%. Within the portfolio, positive returns came from Redwood Domestic Fund and Elliot Associates, King Street Capital and Brigade Leveraged Capital Structures Fund.
JP Morgan Progressive Multi-Strategy Fund was up 0.21%, putting three-month numbers at 2%, while Ermitage Global Multi Strategy Fund gained 0.21% taking three-month figures to 1.94%.
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