Hedge funds record biggest loss since GFC
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.
Recommended for you
In this episode of Relative Return Insider, host Keith Ford and AMP chief economist Shane Oliver take a look at the unfolding impacts and potential economic ramifications of the US government shutdown and the surge in gold and bitcoin prices.
In the latest episode of Relative Return Insider, host Keith Ford and AMP chief economist, Dr Shane Oliver, discuss this week’s RBA interest rate decision, a potential government shutdown in the US, and a new property scheme aimed at first home buyers.
In the latest episode of Relative Return Insider, host Keith Ford and AMP chief economist Shane Oliver discuss the latest Australian CPI data and their impact on future interest rate decisions. If the RBA opts to cut rates again, how will this affect investor and consumer behaviour?
In our new ‘Ahead of the Curve’ series, in partnership with fund manager MFS Investment Management, Money Management will explore all things fixed income.
