Tue, Mar 19, 2024
A A A
Welcome Guest
Free Trial RSS pod
Get FREE trial access to our award winning publications
Alternative Market Briefing

Hennessee Hedge Fund Index up +0.96% in May, year-to-date ahead of Dow, S&P500

Friday, June 22, 2018

Matthias Knab, Opalesque:

Hennessee Group LLC announced today that the Hennessee Hedge Fund Index increased +0.96% for the month (+2.27% YTD), while the S&P 500 was up +2.16% (+1.19% YTD), the Dow Jones Industrial Average increased +1.05% (-1.79% YTD), and the NASDAQ Composite Index gained +5.32% (+7.99% YTD). Bonds were positive for the month, as the Barclays Aggregate Bond Index increased by +0.71%, (-1.50% YTD).

The top three strategies for the month were Financial Equities (+3.51%), Healthcare and Biotech (+3.29%) and Value (+2.42%). While, the bottom three strategies for the month were Distressed (-2.89%), Latin America (-2.78%) and Fixed Income (-1.08%). For the year, Short Biased (+11.57%) leads all strategies while Distressed (-10.99%) brings up the rear.

Equity long/short hedge funds were positive for the month, as the Hennessee Long/Short Equity Index rose +1.78% (+3.79% YTD). The better performing sectors were Information Technology (+7.13%), Industrials (+2.69%) and Energy (+2.53%). While underperforming sectors were Telecommunication Services (-2.28%), Consumer Staples (-1.79%) and Utilities (-1.69%).

The Hennessee Arbitrage/Event Driven Index increased +0.43% for the month (+0.33% YTD). The Barclays Aggregate Bond Index increased +0.71% for the month (-1.50% YTD) as interest rates demonstrated a slight increase for the month. The Merrill Lynch High Yield Master II Index increased +4.91% for the month, and high yield spreads increased 17 basis p......................

To view our full article Click here

Previous Opalesque Exclusives                                  
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. KKR raises $6.4bn for the largest pan-Asia infrastructure fund[more]

    Laxman Pai, Opalesque Asia: The New York-based global investment firm KKR has raised a record $6.4bn for its second Asia-focused infrastructure fund, underlining investors' continued appetite for private markets. According to a media release from the alternative assets manager, the figure top

  2. Bucking the trend, top hedge fund makes plans for a second SPAC[more]

    From Institutional Investor: SPACs aren't dead. At least not to the folks at Cormorant Asset Management. The life sciences firm, whose hedge fund topped its peers in 2023, is confident it will match the success of its first blank-check company. Last week, the life sciences and biopharma speciali

  3. Benefit Street Partners closes fifth fund on $4.7 billion[more]

    Bailey McCann, Opalesque New York: Benefit Street Partners has closed its fifth flagship direct lending vehicle, BSP Debt Fund V, with $4.7 billion of investable capital across the strategy. Benefit Street invests primarily in privately originated, floating rate, senior secured loans. The fun

  4. 4 hedge fund themes that are working in 2024[more]

    From The Street: A poor earnings report from Tesla (TSLA) has not hurt the indexes on Thursday. The decline in Tesla stock, which is losing its position in the Magnificent Seven pantheon, is more than offset by strong earnings from IBM (IBM) and ServiceNow (NOW) . In addition, the much higher-t

  5. Opalesque Exclusive: A global macro fund eyes opportunities in bonds[more]

    Bailey McCann, Opalesque New York for New Managers: Munich-based ThirdYear Capital rebounded in 2023, following a tough year for global macro. The firm's flagship ART Global Macro strategy finished the year up 1