Bloomberg – Hedge funds returned an average 5.2 percent in May, the best performance in more than nine years, as they attracted more money and global markets rallied, Eurekahedge Pte said.
The Eurekahedge Hedge Fund Index, tracking more than 2,000 funds, has advanced 9.2 percent this year, according to a preliminary report by the research firm based on the 27 percent of funds that reported May performance. The industry recorded net inflows for the first time in 10 months in May, gaining $1.5 billion, while total assets rose by $5 billion, the report said.
“Numbers of this magnitude clearly won’t last, but I do think the industry will have a very good year,” said Peter Douglas, principal of GFIA Pte, a Singapore-based hedge-fund consulting firm. “What we like at the moment is equity long- shorts, and Asia is an equity story.” Long-short equity funds bet on rising and falling stock prices.