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EVENT-DRIVEN STRATEGIES LEAD HFRI IN MAY
Energy, Technology funds drive third consecutive monthly advance; Macro declines as CTA losses offset Discretionary gains as Fed, Brexit risks rise
 
CHICAGO, (June 7, 2016) – Hedge funds posted gains for the third consecutive month in May, as the U.S. Dollar strengthened in anticipation of higher U.S. interest rates, as well as an increasingly uncertain outcome of the upcoming UK referendum (“Brexit”). The HFRI Fund Weighted Composite Index® (FWC) gained +0.4 percent for the month, according to data released today by HFR®, the established global leader in the indexation, analysis and research of the global hedge fund industry. Strong performance in Event Driven strategies was complemented by gains in Relative Value Arbitrage and Equity Hedge strategies, which were only partially offset by declines in Macro; all four main hedge fund strategies are now positive for 2016. The May gain brings YTD performance for the FWC to +0.74 percent, topping most equity market indices, including the Nasdaq, Nikkei, FTSE, DAX and Shanghai Composite, while narrowly trailing the S&P 500 and DJIA. The HFRI Asset Weighted Composite Index posted a similar gain of +0.3 percent for the month.