Hedge fund returns higher than expected for May
Hedge fund performance in May was higher than expected for the month, with sector returns finishing at 4.06 per cent, compared to expectations of a return of 3.1 per cent, according to the Credit Suisse/Tremont Hedge Fund Index.
Emerging markets posted 6.96 per cent for the month as risk returns to the marketplace and rising commodity prices encouraged investors. Convertible arbitrage was the next best performer at 5.81 per cent, a little down from expected returns of 6.03 per cent.
Dedicated short bias, while posting a negative return of minus 0.55 per cent, improved significantly from a much worse performance in April of minus 9.57 per cent.
Hedge funds have posted returns of 6.72 per cent over 2009.
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