Both gross and net monthly returns were positive in May for the Palomar Structured Credit Hedge Fund Index compiled and calculated by Palomar Capital Advisors, marking the first monthly ga

Both gross and net monthly returns were positive in May for the Palomar Structured Credit Hedge Fund Index compiled and calculated by Palomar Capital Advisors, marking the first monthly gains since September last year.

The index posted a gross return of 0.51 per cent and a net return of 0.35 per cent in May, with 18 out of 23 funds announcing positive monthly results. However the gross and net indices continue to show annualised declines of 6.22 per cent and 8.07 per cent respectively.

All sub-strategies, with the exception of long investment grade leveraged, achieved a positive performance, while the dispersion and range of returns decreased compared to the data observed in April.

The Palomar Structured Credit Hedge Fund Index, which is published by Structured Credit Investor, seeks to represent the risk and return of open investible structured credit hedge funds. It currently comprises 23 constituent funds with more than USD10bn in assets under management.

Zurich-based Palomar Capital Advisors is an independent financial advisory firm specialising in structuring, managing and placing credit-related alternative investment products.