Hedge funds enjoy 'best month in a decade'

12 June 2009

Hedge funds had their best month in "almost a decade" during May, according to the latest figures from industry monitor Eurekahedge.

Based on 27.1 per cent of net asset values reported by June 11th, the Eurekahedge Hedge Fund Index was up 5.2 per cent over the month. Over the year to date, hedge fund returns have been 9.2 per cent.

Eurekahedge said returns were driven by a continued rally in the equities markets, as well as the weakness of the US dollar.

The analyst added that the industry saw net inflows of money for the first time in ten months, with $3.2 billion of inflows more than offsetting redemptions of $1.7 billion.

Regionally, the Eurekahedge North American Hedge Fund Index was up 3.5 per cent in May and is 8.55 per cent higher over 2009 so far. Meanwhile, the European Hedge Fund Index was up 2.42 per cent in May and has recorded returns of 6.93 per cent for the year to date.

The Emerging Markets Hedge Fund Index recorded returns of 8.46 per cent in May and is 17.12 per cent higher for 2009.

Eurekahedge monitors 20,459 alternative investment funds worldwide.

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