The month’s best performing strategy was Managed Futures, which inched up by 3.51%. Managers of this strategy invest in listed financial and commodity futures markets and currency markets around the world.
In comparison, over the month:
- the S&P 500 fell a further 0.91%
- the Dow Jones Industrial Index dropped by 0.21%
- the NASDAQ slid by -4.29%.
Year to date, hedge funds have crept up by 2.2%, while:
- the S&P 500 has lost -7.05%
- the Dow Jones has fallen by -0.96%
- the NASDAQ has lost -17.16%.
Emerging markets has been the year’s top performing strategy, having increased by 9.23% in the first five months of 2002.
The CSFB Tremont Hedge Fund Index comprises 385 funds and is constructed using the TASS database of over 2,600 hedge funds. In order to qualify for inclusion in the index selection universe, a fund must have $10 million under management, a 12-month track record, and an audited financial statement.