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Preqin: Event driven hedge funds top performers so far, +2.10% in May, +7.60% YTD

Thursday, June 27, 2013
Opalesque Industry Update: Event driven hedge funds have outperformed other strategies in May 2013, posting net returns of 2.10%, Preqin’s June edition of Hedge Fund Spotlight reveals. This takes the overall 2013 performance of event driven funds above that of long/short funds, which have posted returns of 5.39% in 2013 YTD and 0.75% in May.

Other Key Facts:
• Long/short funds of funds are outperforming the direct long/short industry, posting returns of 1.74% in May and 6.51% in 2013 YTD.
• CTA performance has been volatile in the first two months of Q2 2013; in May CTAs posted -1.82%, compared to positive returns of 0.98% in April.
• Macro funds continue to underperform, returning just 0.13% in May, taking total performance in 2013 YTD to 2.15%.
• Europe was the top-performing region in May, with vehicles posting 1.61%. Asia-Pacific-focused vehicles had their worst month of the year so far, posting just 0.29% in May, compared to 2.51% in April.

Comment:
“Hedge funds posted positive returns across all strategies and regions this month with event-driven strategies, in particular, contributing a healthy return of 2.10% for May. Hedge funds focusing on Asia-Pacific markets posted a return of just 0.29% in May, the lowest for ten months. However, funds targeting the region have generated a year-to-date return of 9.38% and continue to outperform the benchmark for all hedge funds (2013 YTD of 4.63%). Other funds also posted positive returns this month with the exception of CTAs, which saw a loss of 1.82%.”
Joe Childs, Manager – Hedge Fund Performance.

Press release here.

Preqin is the leading source of information for the alternative assets industry, providing data and analysis via online databases, publications and bespoke data requests. www.preqin.com

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