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Komfie Manalo, Opalesque Asia:

Global hedge funds posted mixed returns in May as the financial markets traded on wide ranges, according to Hedge Fund Research. The HFRX Global Hedge Fund Index gained +0.26% (+2.55% YTD) and the HFRX Absolute Return Index gained +0.59% (+2.40% YTD).

But the HFRX Equity Hedge Index posted a decline of -0.18% (+3.24% YTD) for May with contributions from fundamental value which were offset by declines in growth and market neutral strategies. The HFRX EH: Equity Market Neutral Index also fell -0.45% (-0.24% YTD) as well as the HFRX EH: Fundamental Growth Index which declined-1.21% (+7.30% YTD).

The HFRX Fundamental Value Index gained +0.34% (1.71% YTD) with contributions from positioning in European and US large cap in the Financial and Industrial sectors, partially offset by declines in Emerging Markets.

Also gaining in May was the HFRX Macro/CTA Index which posted +0.69% growth (+1.34% YTD), with contributions from discretionary global fixed income, emerging markets and global macro strategies partially offset by mixed performance from quantitative, trend-following, systematic CTAs as the HFRX Macro: Systematic Diversified/CTA Index declined -0.10% (+0.86% YTD) for the period.

The HFRX Event Driven Index posted a gain of +0.48% (+2.45% YTD) for May, with contributions from merger arbitrage, distressed/restructuring and special situati......................

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