Hedge fund index rises in May

The Hedge Fund Research Inc. composite index increased 2.43% in May and is up 7.19% on the year. "Strong global equity markets with a particular focus on emerging markets in Asia and on energy and technology drove the index in May," said Ken Heinz, president of Hedge Fund Research. Leading the charge in May was the energy index, which rose 4.64% for the month and is up 12.94% for the year. "The energy industry in its entirety will continue to be a meaningful focus for hedge funds," he said. In HFR's Emerging Markets Global Index rose 4.32% and is up 11.70% for the year. Mr. Heinz attributed the increase to strong monthly gains in both emerging Asian markets such as China, Hong Kong and Korea in addition to strong performance in Japan. Also leading the charge in the year's fifth month were Hedge Fund Research's Marco and Technology indexes, which increased 3.45% and 3.46%, respectively. "Within those sectors there was strong performance driven in part by higher energy prices and evidence of sustainable growth and continued robust mergers & acquisitions environment," said Mr. Heinz. Hedge Fund Research is based in Chicago.