Fixed income arbitrage and global macro strategies were May’s top performers with weighted average returns of 2.7% and 2.6% respectively, according to the latest monthly report on hedge funds from Citco, the $1.8tn global alternative investment asset servicer. The report reveals that hedge funds saw positive performance across most strategies, with an overall weighted average return of 1.7%. Equities strategies ranked third with a weighted average return of 1.8%. Multi-strategy and commodities funds saw 1.4% and 0.1% respectively, while event-driven funds were negative for the second month in a row with –1.2%. Hybrid funds saw the greatest net inflows of $1bn in May, leading for four consecutive months, followed by equities ($0.6bn), arbitrage and multi-strategy funds (both $0.5bn). Emerging markets and global macro funds both had equal inflows and outflows, while event-driven funds had net outflows of $0.1bn. Regionally, funds in the Americas saw net inflows of $2.7bn. Asia followed with $0.5bn, while Europe was flat.
Hedge fund-style total return swaps raise new risks for sovereign bondholders
Governments including Senegal, Angola and Nigeria are increasingly using total return swaps (TRS) to raise funding from banks, but the…
More
Jain Global adds two senior equity PMs in London
Jain Global has strengthened its London equities operation with the appointment of two senior portfolio managers, continuing to build out…
More
Bridgewater calls for AI tax and public ownership to spread benefits of tech boom
Bridgewater Associates is calling for policymakers to take action to ensure the economic benefits of artificial intelligence are shared…
More