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Alternative Market Briefing

eVestment: Hedge funds up +0.65% in May (+0.84% YTD)

Friday, June 08, 2018

Bailey McCann, Opalesque New York:

The global hedge fund industry saw an aggregate return of +0.65% in May, according to the just-released eVestment May 2018 Hedge Fund Performance Report. Hedge funds are up broadly for the year +0.84%. Wide disparities in returns among fund types is hiding some segments of strong performance in the industry, however.

Quantitative Directional Equity funds and Long/Short Equity funds were big winners for the month, returning +2.15% and +2.05% respectively. Overall, nearly 63% of reporting products were positive in May, but the differential between the average positive and average negative returns was the largest in nearly two years.

Macro and Managed Futures funds were big losers in May. Macro was down -2.31% for the month. Managed Futures fund losses continued in May, with these funds returning -0.50%, bringing YTD returns to -2.79%, the most negative YTD returns among primary strategies.

Outside of the US, Brazil- and India-focused funds, both strong performers in 2017, are looking very weak in 2018, with returns of -7.90% and -4.74% respectively in May. India funds are now the worst performing segment among hedge funds for the year, with YTD returns of -9.18%. Asia-focused funds offered a mixed bag of returns during the month, with China-focused funds returning +5.75% in May, Japan-focused funds returning +0.25% and Asia ex-Japan-focused funds returning -0.97%.......................

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