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Greenwich Global Hedge Fund Index fell 1.86% in May (+1.9% YTD)

Friday, June 22, 2012
Opalesque Industry Update – Hedge fund managers ended the month lower in May 2012 as the Greenwich Global Hedge Fund Index fell 1.86% for the month. Futures strategies were the best performers during the month, returning their biggest monthly gain this year of 2.31% on average. The GGHFI’s loss (-1.86%) compared favorably to global equity returns with the S&P 500 Total Return (-6.01%) and MSCI World Equity (-8.99%) equity indices. 31% of constituent funds in the GGHFI ended the month with gains.

“The financial crisis in Europe emerged with renewed focus in May, with concerns about both Greece and Spain placing significant pressure on financial markets. Signs of slowing growth in the US and Asia also contributed to negative action in world equity markets. Long-Short Equity funds lagged other hedge fund strategies in this environment with a loss of 4.24%, but outperformed global equity returns. Futures managers were the clear winners on the month, gaining 2.31%. Arbitrage funds also held their gains in May, demonstrating the value of these market neutral strategies,” notes Allison Boucher, Vice President.

Global Index Strategy Highlights

  • • Futures funds are the best performers on the month, gaining 2.31%
  • • Long-Short Equity funds fall 4.24% on average; Short-biased funds are the exception, gaining 4.60%
  • • Most Market Neutral strategies produce mixed results. Event-Driven funds lost 2.57% on average; Arbitrage funds gain 9 bps
  • • Emerging Market funds fall substantially more than Developed Market managers – Greenwich Regional Composite Indices decline -5.79% and -1.44%, respectively; globally focused funds produce the best results, rising 20 bps

(press release)

Performance table: www.greenwichai.com/index.php/returns-gai-global-hf-indices



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