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Greenwich Global Hedge Fund Index loses ground in May -1.20%

Thursday, June 09, 2011
Opalesque Industry Update - Hedge funds showed pockets of strength in May, but overall lost ground reports the Greenwich Global Hedge Fund Index (“GGHFI”). The GGHFI shed 1.20% compared to global equity returns in the S&P 500 Total Return (-1.13%), MSCI World Equity (-2.45%), and FTSE 100 (-0.89%) equity indices. 36% of constituent funds in the GGHFI ended the month with gains.

“Market Neutral strategies demonstrated their worth in May,” notes Clint Binkley, Senior Vice President. “Economic uncertainty took its toll on equity markets and Directional strategies in general during the month but managers that were less beta sensitive came out ahead. We expect a growing number of funds to decrease their net exposure as a result of recent volatility.”

Hedge Fund Strategy Highlights

  • Long-Short Credit and Arbitrage funds post best returns on the month
  • Long-Short Equity funds decline less than 1%

  • Managed Futures funds suffer from equity and commodity retreat, fall 3.25%

  • Long-Short Credit and Distressed Securities funds lead hedge funds on year-to-date basis, up 5.03% and 4.24%, respectively

  • Developed Market funds less impacted from global sell off than Emerging Market funds; the Greenwich Composite Regional indices fall by 1.18% and 1.99%, respectively

(press release)

The GGHFI is one of the oldest benchmarks of the hedge fund universe. Final Strategy and Regional index results for May will be available in early July, once additional funds have submitted returns. Past performance and indices construction rules for all Greenwich Hedge Fund Indices may be viewed at www.greenwichai.com.

Full performance tables:Source

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