Hedge Funds Performance

QIM hit hard in May


Jaffray Woodriff’s firm has lost 16% of its assets since January 1, largely due to poor performance in May across its Global Program funds. May 20 was particularly bad. Said QIM president Michael Geismar: “It was one of the worst days we’ve ever had.”

Assets at Jaffray Woodriff’s managed futures firm, Quantitative Investment Management, have declined 16% since January, from $5.6 billion to $4.7 billion, following a string of consecutive monthly losses and a severe hit to most of its funds in May. The firm’s Quantitative Global Program lost nearly 4% in one day. “It was the 20th that really hurt us,” said QIM president Michael Geismar. On May 20, the S&P 500 dropped 3.9% and the Global Program lost 3.7%. “It was one of the worst days we’ve ever had.” 

The Quantitative Global Program, which manages $3 billion, ended May down