S&P Hedge Fund Index Ticks Up in May

June 4, 2003 (PLANSPONSOR.com) - The S&P Hedge Fund Index rose 1.84% in May with a decent showing of the sub-index S&P Directional/Tactical Index, according to the Standard and Poor's.

S&P said in a news release that the May showing of its primary hedge fund index led to a 2.92% return for the previous three months and 5.47% year to date. S&P Directional/Tactical Index, on the other hand, boasted a 3.41% showing for May, a 4.89% quarterly return and a 7.17% year-to-date gain.

Next was the second sub-index, the S&P Event-Driven Index with a 2.46% return over the month, a 4.91% showing for the quarter and 7.96% year to date. The final sub-index, the S&P Arbitrage Index, showed a 0.41% loss in May, a 1.06% drop for the quarter and a 1.26% showing year to date.

Meanwhile, the S&P Managed Futures Index had a 6.40% advance in May, a 7.30% gain over the quarter and a 13.35% showing year to date. The Managed Futures index is designed to be an investable benchmark focusing on trading methodologies that constitute a significant portion of the managed futures investment strategies. The Index has 14 constituents, four of which are also constituents of the S&P Hedge Fund Index, which was launched in November (See  S&P Introduces Hedge Fund Index ).

The S&P Hedge Fund Index was up 1.06% in April as three out of four components recorded positive returns (See

S&P: Hedge Fund Index Up 1.06% in April ).