Hedge funds record biggest loss since GFC

hedge funds equity markets credit suisse cent

16 June 2010
| By Chris Kennedy |

The Credit Suisse/Tremont Hedge Fund Index has recorded its largest drop since November 2008, losing 2.76 per cent in May — although it still comfortably outperformed other equity markets.

Nine out of 10 sectors within the index posted negative performances for the month, with only dedicated short bias performing positively, gaining 5.84 per cent in May as managers benefited from negative equity market performance and overall higher volatility, according to president of Credit Suisse Index Oliver Schupp.

“Although the industry was negatively impacted by the market sell-offs, hedge funds outperformed equity market indices such as the S&P 500 and MSCI World which fell 7.99% and 9.77% respectively in May,” he said.

Global Macro and Fixed Income Arbitrage managers were largely able to limit their losses, finishing the month down 0.63% and 0.79% respectively.

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