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Hedge funds post best monthly performance since 2000

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Hedge funds posted the strongest gains in nearly a decade in the month of May, with the HFRI Fund Weighted Composite Index climbing over 5.2 per cent, according to data from Hedge Fund

Hedge funds posted the strongest gains in nearly a decade in the month of May, with the HFRI Fund Weighted Composite Index climbing over 5.2 per cent, according to data from Hedge Fund Research. 

May was the biggest single month jump since February 2000, and the index is up over nine per cent year-to-date.

Recent gains follow volatile performance from 2008, a year in which the broad-based composite declined more than 19 per cent.

While the HFRI Fund Weighted Composite was lifted by a broad equity market rally during the month, strategies focused on energy and emerging markets posted the strongest gains.

The HFRI Equity Hedge (Total) Index gained over seven per cent (also the strongest gain since February 2000), while the HFRI EH: Energy/Basic Materials Index gained 9.64 per cent and the HFRI Emerging Markets (Total) Index gained 9.74 per cent.

‘After historical lows in 2008, risk appetite has quickly returned over the last eight weeks, suggesting that hedge fund investors are again looking past month-to-month volatility and focusing on the longer-term performance merits of the industry,’ says Kenneth Heinz, president of HFR. ‘Following a period of consolidation, we expect industry growth to resume in the coming quarters, with an emphasis on transparent investment by institutional investors.’

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