After negative performance of hedge funds in March and April, average hedge fund performance in May was at 1.00%. Event driven strategies performed best with 2.66%.
On average, hedge funds returned in May 1% and in the firth half of this year 1.93%. Both fall short of the S&P total return index performing 2.35% in May and 4.96% for this year already. For the whole year, this performance was not achieved by any hedge fund strategy.
According to eVestment, among all strategies, event driven hedge funds performed best with 2.66%. For this year, they made 3.39% on average. Best performing strategies during the last six months were credit and distressed strategies returning 3.77% and 4.66%.
Hedge funds investing in the energy sector scored highest in May with 1.30% and 7.95% for this year. Second best score healthcare investments this year with 5.55%. Only hedge funds investing in the financial and technology industry destroyed value with a performance of -0.61% and -3.27% during the last six months.
Best performing countries are Russia and India. Hedge funds made on average more than 10% in both countries during May. In emerging markets in general, 2,72% could be achieved in May and 1.99% during this year so far.
The best performing fund is Pershing Square. With about 15 billion dollar, they made a return of 25% during the last six months.