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eVestment: Hedge funds positive in May +2.54%

Wednesday, June 17, 2020
Opalesque Industry Update - The global hedge fund business posted an average +2.54% return for May, according to the latest eVestment hedge fund performance data. The rebound last month wasn't enough to turn the tide for the industry, which is down -5.36% YTD.

However, roughly one-fourth of funds are in the green for the year, with those funds putting up strong average returns of +20.25%, according to eVestment data.

Activist strategies were top performers in May. The category is up +5.41%. These funds are still in the red YTD, with average performance of -11.70%.

Long/Short Equity strategies are producing a wide variety of returns, with average performance for May coming in at +3.58%. The cohort is at -6.12% YTD. Size doesn't appear to be an advantage in this segment, the 10 largest Long/Short Equity funds are down -10.17%, which is nearly double the size of aggregate industry declines in 2020.

Fixed Income/Credit funds produced average gains of +3.28% in May. These funds sit at -6.16% YTD.

Brazil-focused funds staged something of a comeback in May, with average returns at +6.14%. These funds are still deeply in the red YTD at -28.00%.

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