Despite the meager increase, hedge funds still beat the broader indices over the month. According to Hennessee:
- the S&P 500 fell by -0.74%
- the Dow Jones Industrial Average dipped -0.21%
- the Nasdaq slumped by -4.29%.
In year-to-date terms, hedge funds are up 0.86%, while:
- the S&P 500 is down 6.53%
- the Dow Jones Industrial Average is down -0.95%
- the Nasdaq has lost some -17.15% of its value.
The top three performers for the month of May, which are also the top performers year-to-date, were:
- Pacific Rim, which gained 3.12%, buoyed by positive macroeconomic data in Japan
- Short-Biased, which was up 2.52%
- Financial Equities, which increased by 1.71% as companies bought up their own stock to support prices
The worst performing hedge fund indices for May were:
- Latin America, which fell by -4.37% as political instability left investors jittery
- Healthcare/ Biotech, where stocks slid -2.61%, threatened by class-action suits concerns that patents were expiring
- Growth, which slid -1.32%.