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eVestment's May 2014 Hedge Fund Performance Report

ER - Acteurs du secteur financier
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eVestment's May 2014 Hedge Fund Performance Report is out on hedge fund performance in the past month. Some key points from the report, according to report author and eVestment Vice President of Research Peter Laurelli include:

1) Favorable equity markets and falling treasury yields supported major hedge fund strategies in May, but the industry is on pace to lag 2013’s performance.

2) Activist strategies rebounded from April’s declines to post their largest gains since January 2013. Distressed funds also produced strong returns in May putting them atop all major strategies in 2014.

3) Credit funds posted their ninth consecutive positive month in May, returning 1.03% and are the second best performing primary market-focus behind volatility strategies.

4) After a strong month in April put commodity strategies among the best performing segments of the industry, sharp reversals in precious metals, grains and natural gas prices appeared to hurt the group in May, dropping them into the middle of the pack for overall industry performance in 2014.

5) Macro strategies posted some large gains in May, however the larger positive returns appear to have come from the smaller funds in the universe, a point reversed among managed futures strategies. Large managed futures funds posted average gains of 2.24% in May while smaller strategies declined 0.13%. For the year, large managed futures funds are handily outperforming the rest of the hedge fund industry, returning 3.70%, while smaller funds are effectively flat in 2014.

6) Emerging markets were again mixed in May. The unique risks and rewards of each country appear highly defined as EM exposure has produced both the best and worst performing segments of the industry so far in 2014.

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