May was a month for most emerging market specialists to forget.
On the debt side GAM Emerging Markets Hedge gave almost all of its April gain back in May, recording a 4.61% loss. And a trio of Finisterre funds, all winners in April, lost ground in May - with Finisterre Credit down 1.13%, Finisterre Global Opportunity losing 2.47%, and Finisterre Sovereign Debt shedding 3.58%.
Guillaume Fonkenell's Pharo Trading posted a 3.46% loss, with Pharo Gaia down by 4.73%. The Argo Fund lost 2.48%, while Argo Special Situations plunged by 5.26%.
GLG Emerging Markets Credit Opportunity made an impressive